Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
HOVNANIAN ENTERPRISES INC incurred senior notes of $430,000,000 aggregate principal amount with Angelo, Gordon & Co., L.P. and Apollo Capital Management, L.P. at 11.75% per annum maturing September 30, 2029.
- Instrument
- senior notes
- Principal
- $430,000,000 aggregate principal amount
- Counterparty
- Angelo, Gordon & Co., L.P. and Apollo Capital Management, L.P.
- Rate
- 11.75% per annum
- Maturity
- September 30, 2029
- Event
- incurrence
Exact text from the filing
and sell to the Specified Persons, in a private placement, $225,000,000 aggregate principal amount of 8.0% Senior Secured 1.125 Lien Notes due 2028 (the “New 2028 Notes”) and $430,000,000 aggregate principal amount of 11.75% Senior Secured 1.25 Lien Notes due 2029 (the “New 2029 Notes” and, together with the New 2028 Notes, the “New Secured Notes”). The issuance
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Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
HOVNANIAN ENTERPRISES INC amended revolving credit of up to $125.0 million with Wilmington Trust, National Association at term SOFR rate (subject to a floor of 3.00%) plus an applicable margin of 4.50% maturing June 30, 2026.
- Instrument
- revolving credit
- Principal
- up to $125.0 million
- Counterparty
- Wilmington Trust, National Association
- Rate
- term SOFR rate (subject to a floor of 3.00%) plus an applicable margin of 4.50%
- Maturity
- June 30, 2026
- Event
- amendment
Exact text from the filing
the Company, the other guarantors party thereto, Wilmington Trust, National Association, as administrative agent, and the lenders party thereto, which provides for up to $125.0 million in aggregate amount of senior secured first lien revolving loans (the “Revolving Credit Facility”). Upon effectiveness, the Third Amendment will (i) extend the final scheduled
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Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
HOVNANIAN ENTERPRISES INC incurred senior notes of $225,000,000 aggregate principal amount with Angelo, Gordon & Co., L.P. and Apollo Capital Management, L.P. at 8.0% per annum maturing September 30, 2028.
- Instrument
- senior notes
- Principal
- $225,000,000 aggregate principal amount
- Counterparty
- Angelo, Gordon & Co., L.P. and Apollo Capital Management, L.P.
- Rate
- 8.0% per annum
- Maturity
- September 30, 2028
- Event
- incurrence
Exact text from the filing
pursuant to which K. Hovnanian will issue and sell to the Specified Persons, in a private placement, $225,000,000 aggregate principal amount of 8.0% Senior Secured 1.125 Lien Notes due 2028 (the "New 2028 Notes")
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
HOVNANIAN ENTERPRISES INC amended Third Amendment to Credit Agreement (Revolving Credit Facility) with Wilmington Trust, National Association valued at Up to $125.0 million senior secured first lien revolving loans (effective 2023-09-25).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Wilmington Trust, National Association
- Value
- Up to $125.0 million senior secured first lien revolving loans
- Effective
- 2023-09-25
Exact text from the filing
On September 25, 2023, Hovnanian Enterprises, Inc. (the “Company”), K. Hovnanian Enterprises, Inc. (“K. Hovnanian”), a wholly-owned subsidiary of the Company, and the Subsidiary Guarantors (as defined below) entered into the Third Amendment (the “Third Amendment”) to the Credit Agreement, dated as of October 31, 2019 (as amended by the First Amendment to the Credit Agreement, dated as of November 27, 2019, and by the Second Amendment to the Credit Agreement, dated as of August 19, 2022), by and among K. Hovnanian, the Company, the other guarantors party thereto, Wilmington Trust, National Association, as administrative agent, and the lenders party thereto, which provides for up to $125.0 million in aggregate amount of senior secured first lien revolving loans (the “Revolving Credit Facility”).
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