Hovnanian to repurchase three series of notes with stock offering

By Tali David

Minneapolis, April 3 - Hovnanian Enterprises, Inc. plans to use the proceeds from its class A common stock offering to purchase roughly $15.3 million principal amount of 6¼% senior notes due Jan. 15, 2016, $22.8 million of 7½% senior notes due May 15, 2016 and $37.4 million principal amount of 8 5/8% senior notes due Jan. 15, 2017, according to a 424B5 filed with the Securities and Exchange Commission.

The company will also use proceeds for general corporate purposes.

Hovnanian is a Los Angeles-based homebuilder.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.