SCOTTSDALE, Ariz., Feb. 18, 2014 (GLOBE NEWSWIRE) -- AV Homes, Inc. (Nasdaq:AVHI) (the "Company"), a developer and builder of active adult and conventional home communities in Florida, Arizona and North Carolina, today announced the results of the previously announced option of holders of $55,500,000 aggregate principal amount of its outstanding 7.50% Senior Convertible Notes due 2016 (CUSIP No. 053494 AG5) (the "Notes") to require the Company to repurchase all or a portion of their Notes pursuant to the terms of the Notes and the indenture governing the Notes (the "Repurchase Right"). Under the terms of the Repurchase Right, holders of the Notes had the opportunity to surrender the Notes for purchase prior to 5:00 p.m., New York City time, on February 14, 2014 (the "Repurchase Deadline") and had the opportunity to withdraw any Notes previously surrendered for purchase at any time prior to the Repurchase Deadline.
AV Homes, Inc. Announces Results Of Repurchase Right For $55,500,000 Aggregate Principal Amount Of Its 7.50% Senior Convertible Notes
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