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Note 12 - Senior Notes and Credit Facilities (Tables)
 6 Months Ended
Apr. 30, 2025
Senior Notes and Credit Facilities  
Schedule of Long-Term Debt Instruments

April 30,

October 31,

(In thousands)

2025

2024

Senior Secured Notes:

8.0% Senior Secured 1.125 Lien Notes due September 30, 2028
$ 225,000

$ 225,000
11.75% Senior Secured 1.25 Lien Notes due September 30, 2029

430,000


430,000

Total Senior Secured Notes

$ 655,000 $ 655,000

Senior Notes:

13.5% Senior Notes due February 1, 2026 

 $ - $ 26,588

5.0% Senior Notes due February 1, 2040 

 24,968 24,968

Total Senior Notes

$ 24,968 $ 51,556

Senior Secured 1.75 Lien Term Loan Credit Facility due January 31, 2028 

 $ 175,000 $ 175,000
Senior Secured Revolving Credit Facility (1)
$ -

$ -

Subtotal senior notes and credit facilities

$ 854,968 $ 881,556

Net premiums (discounts)

$ 11,646 $ 17,340

Unamortized debt issuance costs

$ (2,334 ) $ (2,678 )

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

$ 864,280 $ 896,218


(1) At April 30, 2025, 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.