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Note 12 - Senior Notes and Credit Facilities - Senior Notes and Credit Facilities Balances (Details) - USD ($)
$ in Thousands
Jul. 31, 2024
Oct. 31, 2023
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities $ 881,556 $ 1,070,261
Net premiums (discounts) 20,026 (14,563)
Unamortized debt issuance costs (2,833) (4,207)
Total senior notes and credit facilities, net of discounts, premiums and unamortized debt issuance costs 898,749 1,051,491
Senior Secured Notes [Member]    
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities 655,000 768,502
Unsecured Senior Notes [Member]    
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities 51,556 180,710
Senior Unsecured Term Loan Credit Facility Due 2027 [Member]    
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities [1] 0 39,551
Senior Secured Revolving Credit Facility [Member]    
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities [2] 0 0
The 10.0% Senior Secured 1.75 Lien Notes due November 15, 2025 [Member] | Senior Secured Notes [Member]    
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities [3] 0 113,502
The 13.5% Senior Notes Due 2026 [Member] | Unsecured Senior Notes [Member]    
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities [1] 26,588 90,590
The 5.0% Senior Notes due 2040 [Member] | Unsecured Senior Notes [Member]    
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities [1] 24,968 90,120
The 10.0% Senior Secured 1.75 Lien Term Loans Due 2028 [Member] | Senior Secured Term Loan [Member]    
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities [1] 175,000 81,498
The 8.0% Senior Secured 1.125 Lien Notes Due 2028 [Member] | Senior Secured Notes [Member]    
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities 225,000 225,000
The 11.75% Senior Secured 1.25 Lien Notes Due 2029 [Member] | Senior Secured Notes [Member]    
Debt Instrument [Line Items]    
Subtotal senior notes and credit facilities $ 430,000 $ 430,000
[1] On May 21, 2024, K. Hovnanian exchanged $64.0 million aggregate principal amount of 13.5% Senior Notes due February 1, 2026 and cash, $65.2 million aggregate principal amount of 5.0% Senior Notes due February 1, 2040 and all of its $39.6 million aggregate principal amount of loans under the Senior Unsecured Term Loan Credit Facility due February 1, 2027 and cash for an additional $93.5 million aggregate principal amount of loans under the Senior Secured 1.75 Lien Term Loan Credit Facility due January 31, 2028.
[2] At July 31, 2024, provides for up to $125.0 million in aggregate amount of senior secured first lien revolving loans. The revolving loans thereunder have a maturity of June 30, 2026 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 4.00%) 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.
[3] On November 15, 2023, K. Hovnanian redeemed all of its $113.5 million aggregate principal amount of 10.0% Senior Secured 1.75 Lien Notes due November 15, 2025.