SCOTTSDALE, Ariz., Feb. 27, 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 that it is notifying the holders of $5,402,000 aggregate principal amount of its outstanding 4.50% Convertible Senior Notes due 2024 (CUSIP No. 053494 AE0) (the "Notes") that, pursuant to the terms of the Notes and the indenture governing the Notes, they have the option to require the Company to repurchase, on April 1, 2014 (the "Repurchase Date"), all or a portion of their Notes (the "Repurchase Right") at a price equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest to, but excluding, the Repurchase Date. The Company will pay for any Notes validly surrendered and not validly withdrawn with cash. The appropriate amount of cash for surrendered Notes will be provided to DTC on April 2, 2014.
AV Homes, Inc. Announces Repurchase Right Notification For $5,402,000 Aggregate Principal Amount Of Its 4.50% Convertible Senior Notes
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