Hovnanian Enterprises, Inc. announced the pricing of $450 million aggregate principal amount of 8.000% Senior Notes due 2031 and $450 million aggregate principal amount of 8.375% Senior Notes due 2033.
The Notes will be guaranteed by the Company and its subsidiaries.
The sale of the Notes is expected to be completed around September 25, 2025.
Offering Details
Offering includes $450 million of 8.000% Senior Notes due 2031 and $450 million of 8.375% Senior Notes due 2033.
Intended Use of Proceeds
Proceeds to fund redemption of existing secured notes, repay loans under Term Loan Facility, and cover related fees and expenses.
Regulatory Compliance
Notes not registered under Securities Act of 1933; offered to qualified institutional buyers and certain offshore persons.
- The offering aims to refinance existing debt and strengthen the Company's financial position.
- Proceeds will support strategic financial initiatives and improve liquidity for future operations.
HOVNANIAN ENTERPRISES, INC. strategically priced new Senior Notes to optimize financial restructuring and operational capabilities, positioning the Company for sustained growth in the competitive homebuilding market.