Davis Polk advised J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC as joint book-running managers and the initial purchasers on a Rule 144A and Regulation S offering by K. Hovnanian Enterprises, Inc. of $250 million aggregate principal amount of 8.00% senior notes due 2019. The notes are guaranteed by Hovnanian Enterprises, Inc. and substantially all of its subsidiaries. Davis Polk also advised J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC as solicitation agents in connection with K. Hovnanian Enterprises’ solicitation of consents to certain amendments in the indentures governing its 7.25% senior secured first-lien notes due 2020 and 9.125% senior secured second-lien notes due 2020.  

K. Hovnanian Enterprises, Inc. is a subsidiary of Hovnanian Enterprises, Inc., which is headquartered in Red Bank, New Jersey, and is one of the nation’s largest builders of residential homes. 

The Davis Polk capital markets team included partner Michael Kaplan, counsel Jeff Ramsay, associate Brian A. Mathes and former associate Peter E. Devlin. Partner Lucy W. Farr and associates Adam B. Perry and Ariel David Siman provided tax advice. The environmental team included counsel Loyti Cheng and associate Michael Comstock. All members of the Davis Polk team are based in the New York office.