ADVFN - Advanced Financial Network.
HOME» NYSE » H » HOV Stock Price » HOV Stock News

Hovnanian Ent Share News

 Hovnanian Enterprises, Inc. Stock Price
HOV Stock Price
 Hovnanian Enterprises, Inc. Stock Chart
HOV Stock Chart
 Hovnanian Enterprises, Inc. Stock News
HOV Stock News
 Hovnanian Enterprises, Inc. Company Information
HOV Company Information
 Hovnanian Enterprises, Inc. Stock Trades
HOV Stock Trades

Hovnanian To Offer $50 Million In Stock, 3M Units, To Refinance Debt

DOW JONES NEWSWIRES Hovnanian Enterprises Inc. (HOV) detailed plans to offer $50 million of the home builder's Class A shares, three million tangible equity units and senior unsecured notes, with plans to use the proceeds to purchase earlier notes. Shares of Hovnanian, which builds homes in 18 states, slid 2.9% to $4.29 in after-hours trading, as the amount of shares will increase after the offering. Hovnanian, which is the latest in a string of companies looking to take advantage of record-low interest rates by refinancing debt, has about 78.8 million shares outstanding. Hovnanian said the equity units will each comprise of a prepaid stock purchase contract issued by the company and a senior subordinated note due in 2014. Hovnanian also intends to offer $150 million of senior unsecured notes due in 2015. The company intends to use the proceeds to fund the purchase of Hovnanian's notes due in 2012 and 2013. The remainder of the proceeds will be used for general corporate purposes. In December, Hovnanian reported its fiscal fourth-quarter loss narrowed on lower land-related charges than a year earlier, though revenue and contracts slid. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Hovnanian Ent (HOV)
DateTimeHeadline
No Recent News Available

Hovnanian Ent and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad