BEVERLY HILLS, Calif.--(BUSINESS WIRE)--May. 29, 2013--
Kennedy-Wilson, Inc. (“Kennedy Wilson”), a wholly owned subsidiary of
international real estate investment and services firm, Kennedy-Wilson
Holdings, Inc. (NYSE: KW), today announced that the company has
commenced a registered exchange offer for the $100 million aggregate
principal amount of outstanding 8.750% Senior Notes due 2019 (the
“Private Notes”) issued on December 6, 2012 in a private placement that
was exempt from the registration requirements of the Securities Act of
1933, as amended (the “Securities Act”). Holders of the Private Notes
may exchange them for an equal principal amount of newly issued 8.750%
Senior Notes due 2019 (the “Exchange Notes”) in an exchange offer that
is registered under the Securities Act pursuant to an effective
registration statement on Form S-4 filed with the U.S. Securities and
Exchange Commission (the “SEC”).
When it issued the Private Notes, Kennedy Wilson agreed to file with the
SEC a registration statement relating to the exchange offer under which
Kennedy Wilson would offer the Exchange Notes, containing substantially
identical terms to the Private Notes, in exchange for Private Notes that
are tendered by the holders of those notes.
Private Notes not tendered for exchange in the exchange offer will
remain outstanding and continue to accrue interest, but will not retain
any rights under the registration rights agreement, except in limited
circumstances.
The terms of the exchange offer are contained in the exchange offer
prospectus and related letter of transmittal.
The exchange offer will expire at midnight, New York City time, in the
evening of June 25, 2013, unless extended or terminated. Tenders of the
Private Notes must be properly made before the exchange offer expires.
Private Notes tendered in the exchange offer may be withdrawn at any
time before the expiration time by following the procedures set forth in
the exchange offer prospectus.
Documents describing the terms of the exchange offer, including the
prospectus and transmittal materials for making tenders, can be obtained
from the exchange agent, Wilmington Trust, National Association, c/o
Wilmington Trust Company, Rodney Square North, 1100 North Market Street,
Wilmington, DE 19890-1626, Attention: Sam Hamed, (302) 636-6181.
This news release does not constitute an offer to sell any securities or
a solicitation of an offer to buy any securities.
The exchange offer will be made only by means of a written prospectus
and the related letter of transmittal.
About Kennedy Wilson
Founded in 1977, Kennedy Wilson is an international real estate
investment and services company headquartered in Beverly Hills, CA with
24 offices in the U.S., U.K., Ireland, Spain and Japan. The company
offers a comprehensive array of real estate services including auction,
conventional sales, property services, research and investment
management. Through its fund management and separate account businesses,
Kennedy Wilson is a strategic investor of real estate investments in the
U.S., U.K., Ireland and Japan.
Source: Kennedy Wilson
Kennedy Wilson
Christina Cha
Vice President of Corporate
Communication
310-887-6294
[email protected]