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| Hovnanian Enterprises announces results of exchange offer Hovnanian Enterprises, Inc. announced the results of the private offer to exchange senior notes in a private placement for new 18.0% Senior Secured Notes due 2017, which will be issued by K. Hovnanian Enterprises, Inc., a wholly owned subsidiary of the company, and guaranteed by the company and substantially all of its subsidiaries. The New Secured Notes will be secured on a third-priority lien basis by substantially all the assets owned by Hovnanian Enterprises and guarantors of the New Secured Notes to the extent such assets secure obligations under the company's Revolving Credit Agreement, second-priority secured notes and certain other permitted indebtedness. write your comments about the article :: © 2008 Construction News :: home page |