Simpson Thacher Represents Hovnanian Enterprises, Inc. in a $150 Million Offering of Senior Notes
01.13.14
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Simpson Thacher represented Hovnanian Enterprises, Inc. (NYSE: HOV) and its subsidiaries (the “Company”), one of the nation’s largest homebuilders and a long-standing client of the Firm, in connection with the private placement offering by K. Hovnanian Enterprises, Inc., its wholly owned subsidiary (“K. Hovnanian”), of $150 million of 7.000% Senior Notes due 2019. The Company intends to use the net proceeds from the offering of the Notes for general corporate purposes, including land acquisition and land development, and to fund the redemption of all of K. Hovnanian’s outstanding 6.25% Senior Notes due 2015 and to pay related fees and expenses.
The Simpson Thacher team included Marisa Stavenas, Richard Fenyes, Jonathan Ozner and Kara Sharkey (Capital Markets), Marcy Geller and Michael Cardella (Tax), Adeeb Fadil (Environmental) and Jeanne Annarumma and Nelli Zaltsman (Executive Compensation and Employee Benefits).