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Note 12 - Senior Notes and Credit Facilities - Senior Notes and Credit Facilities Balances (Details) - USD ($)
$ in Thousands

Jan. 31, 2023

Oct. 31, 2022

Senior debt

$ 1,154,852

$ 1,154,852

Net (discounts) premiums

1,930

4,079

Unamortized debt issuance costs

(11,521)

(12,384)

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

1,145,261

1,146,547

Senior Secured Notes [Member]

Senior debt

853,093

853,093

Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]

Senior debt

180,710

180,710

Senior Unsecured Term Loan Credit Facility Due 2027 [Member]

Senior debt

39,551

39,551

Senior Secured Revolving Credit Facility [Member]

Senior debt

^[1]

0

0

The 10.0% Senior Secured 1.75 Lien Notes due 2025 [Member] | Senior Secured Notes [Member]

Senior debt

158,502

158,502

The 7.75% Senior Secured 1.125 Lien Notes due February 15, 2026 [Member] | Senior Secured Notes [Member]

Senior debt

250,000

250,000

The 10.5% Senior Secured 1.25 Lien Notes due February 15, 2026 [Member] | Senior Secured Notes [Member]

Senior debt

282,322

282,322

The 11.25% Senior Secured 1.5 Lien Notes due February 15, 2026 [Member] | Senior Secured Notes [Member]

Senior debt

162,269

162,269

The 8.0% Senior Notes Due 2027 [Member] | Unsecured Senior Notes [Member]

Senior debt

^[2]

0

0

The 13.5% Senior Notes Due 2026 [Member] | Unsecured Senior Notes [Member]

Senior debt

90,590

90,590

The 5.0% Senior Notes due 2040 [Member] | Unsecured Senior Notes Excluding Senior Amortizing Notes and Senior Exchangeable Notes [Member]

Senior debt

90,120

90,120

The 10.0% Senior Secured 1.75 Lien Term Loans Due 2028 [Member] | Senior Secured Term Loan [Member]

Senior debt

$ 81,498

$ 81,498

[1]

At January 31, 2023, provides for up to $125.0 million in aggregate amount of senior secured first lien revolving loans. In the fourth quarter of fiscal 2022, we amended our Secured Credit Facility, which amendments became effective in the first quarter of fiscal 2023. As amended, the revolving loans thereunder have a maturity of June 30, 2024 and borrowings bear interest, at K. Hovnanian’s option, at either (i) a term secured overnight financing rate (subject to a floor of 1.00%) plus an applicable margin of 4.50% or (ii) an alternate base rate 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.

[2]

$26.0 million of 8.0% Senior Notes due 2027 (the "8.0% 2027 Notes") are owned by a wholly owned consolidated subsidiary of HEI. Therefore, in accordance with U.S. GAAP, such notes are not reflected on the Consolidated Balance Sheets of HEI.

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