Hovnanian amends $337.5 million of term loans with Wilmington Trust

By Susanna Moon

Chicago, May 14 – Hovnanian Enterprises, Inc. and subsidiary K. Hovnanian Enterprises, Inc. amended their $212.5 million credit agreement and $125 million credit agreement, each dated Jan. 29, 2018, on Monday with Wilmington Trust, NA as administrative agent.

The term loan amendment provides for technical and clarifying amendments relating to defined terms and prepayment terms under the credit agreement, according to an 8-K filing with the Securities and Exchange Commission.

The secured loan amendment also provides for technical and clarifying amendments relating to defined terms and prepayment terms and amends conditions to borrowing in the case of defaults.

Hovnanian is a Matawan, N.J., homebuilder.

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