Hovnanian Refinances $600 Million in Debt
25 9월 2023 - 9:44PM
Dow Jones News
By Dean Seal
Hovnanian Enterprises has reached a deal with investors for a
refinancing that will extend the maturities on more than $600
million in debt by a few years.
The homebuilder said Monday that the secured debt will now have
maturities in the fourth quarters of fiscal 2028 and fiscal
2029.
The company has also entered into a deal to extend its $125
million secured revolving credit facility to mature in June
2026.
The deal enhances Hovnanian's balance sheet and reduces risk,
Chief Executive Ara Hovnanian said.
The transactions are expected to close on Oct. 5.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
September 25, 2023 08:29 ET (12:29 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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Hovnanian Enterprises (NYSE:HOV)
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