Hovnanian Enterprises (HOV) Announces Refinancing
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Hovnanian Enterprises Announces Refinancing Transaction
September 25, 2023 8:00 AM EDTMATAWAN, N.J., Sept. 25, 2023 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV) (the Company), a leading national homebuilder, announced today that it has entered into an agreement with existing investors to consummate a refinancing transaction that extends the maturities of over $600 million of the Companys secured debt to the fourth quarters of fiscal 2028 and fiscal 2029. Additionally, it has entered into an agreement with existing lenders to amend and extend its $125 million secured revolving credit facility to mature in June 2026.
This refinancing significantly enhances our balance sheet and reduces... More
