v3.26.1
Note 12 - Senior Notes and Credit Facilities (Tables)
 6 Months Ended
Apr. 30, 2026
Senior Notes and Credit Facilities  
Schedule of Long-Term Debt Instruments

(In thousands)

April 30, 2026

 

October 31, 2025

Senior Notes:

 

 

 

 

 

8.0% Senior Notes due April 1, 2031

$

450,000

 

$

450,000

8.375% Senior Notes due October 1, 2033

 

450,000

 

 

450,000

5.0% Senior Notes due February 1, 2040

 

24,968

 

 

24,968

Total Senior Notes

$

924,968

 

$

924,968

Senior Secured Revolving Credit Facility(1)

$

-

 

$

-

Subtotal senior notes and credit facilities

$

924,968

 

$

924,968

Net (discounts) premiums

$

(10,887)

 

$

(11,051)

Unamortized debt issuance costs

$

(12,182)

 

$

(13,199)

Total senior notes and credit facilities, net of discounts, premiums and unamortized debt issuance costs

$

901,899

 

$

900,718

 

(1) At April 30, 2026, provides for up to $125.0 million in aggregate amount of senior secured first lien revolving loans. The revolving loans under the revolving credit facility have a maturity of June 30, 2028 and borrowings bear interest, at K. Hovnanian’s option, at either (i) a term SOFR (subject to a floor of 3.00%) plus an applicable margin of 4.50% or (ii) an alternate base rate (subject to a floor of 3.00%) plus an applicable margin of 3.50%. In addition, K. Hovnanian will pay an unused commitment fee on the undrawn revolving commitments at a rate of 1.00% per annum.