Company: HOVVB
Filing Date: 2025-09-25
Form Type: 8-K
Source: 0001753926-25-001557
Chunk: 1

Company: HOVNANIAN ENTERPRISES INC
Filing Date: 2025-09-25
Form: 8-K
Item: Item 8.01
Chunk 1
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Item 8.01

Other Events

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K. Hovnanian used the net proceeds from the Notes issuance, together with cash on hand, to(i) fund the redemption on September 25, 2025 of the entire outstanding principal amount of its11.75% Senior Secured 1.25 LienNotes due 2029(the “1.25 Lien Notes”) at a redemption price equal to100.000% of the principal amount thereof plus the applicable “make-whole” premium, plus accrued and unpaid interest to, but excluding, the redemption date(the “ Redemption”),(ii) deposit with Wilmington Trust, National Association, as trustee under the indenture (the “1.125 Lien Notes Indenture”) governing its 8.0% Senior Secured 1.125 Lien Notes due 2028(the “1.125 Lien Notes” and together with the 1.25 Lien Notes, the “ Existing Secured Notes”) funds to satisfy and discharge the 1.125 Lien Notes Indenture and the related security documents and to fund the redemption of the entire outstanding principal amount of its 1.125 Lien Notes at a redemption price equal to104.000% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the redemption date of September 30, 2025 (the “ Satisfaction and Discharge”) and(ii i) repay in full all outstanding loans under its Senior Secured 1.75 Lien Term Loan Facility due 2028(the “ Existing Term Loan Facility”) at par plus accrued and unpaid interest to, but excluding, the prepayment date(the “ Prepayment”).

In connection with the Redemption, the Satisfaction and Discharge and the Prepayment, all of the liens on the collateral securing the 1.25 Lien Notes, the 1.125 Lien Notes and the Existing Term Loan Facility, as applicable, were released and K. Hovnanian, the Company and the other guarantors were discharged from their respective obligations under the Existing Secured Notes, the Existing Term Loan Facility and the guarantees thereof, as applicable.

In addition, on September 25, 2025, the previously disclosed amendments to the Fourth Amendment (the “ Fourth 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, the Second Amendment to the Credit Agreement,