Hovnanian gets up to $125 million in first-lien revolving loans

By Sarah Lizee

Olympia, Wash., Oct. 31 – Hovnanian Enterprises, Inc. and subsidiary K. Hovnanian Enterprises, Inc. got up to $125 million in senior secured first-lien revolving loans, according to an 8-K filing with the Securities and Exchange Commission.

The revolver will be used for general corporate purposes.

Availability will terminate on Dec. 28, 2022, and the secured loans will bear interest at a rate per annum equal to 7.75%.

Wilmington Trust, NA is the administrative agent.

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

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