04:34 PM EDT, 09/11/2025 (MT Newswires) -- Hovnanian Enterprises ( HOV ) said Thursday its subsidiary K. Hovnanian ( HOV ) has priced an offering of $450 million of 8% senior notes due 2031 and $450 million of 8.375% senior notes due 2033 in a private placement.

The sale is expected to close on or about Sept. 25.

Proceeds will be used to redeem certain existing notes, repay loans under its senior secured term loan due 2028, and cover related fees and expenses, according to the company.