Kennedy Wilson Redeems All $55 Million of 7.75% Senior Notes Due 2042
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--
Kennedy-Wilson, Inc. (“Kennedy Wilson”), a wholly owned subsidiary of
global real estate investment company Kennedy-Wilson
Holdings, Inc. (NYSE: KW) has redeemed all $55 million in
aggregate principal amount of its 7.75% Senior Notes due 2042 (the
“Senior Notes”) at a redemption price equal to 100% of the principal
amount.
Accrued interest on the Senior Notes was also paid on December 1, 2017
to all holders of record of the Senior Notes as of the close of business
on November 15, 2017.
“We are continually focused on seeking opportunities to lower our
weighted average cost of borrowing, which stood at 3.8% as of September
30,” said Matt Windisch, Kennedy Wilson Executive Vice President. “The
pay-off of this 7.75% debt in conjunction with the recent refinance of
our construction loan at Clancy Quay in Dublin, Ireland is a great
example of that strategy in action, as we secured a new €45 million loan
with a fixed-rate of 2.03% maturing in 2025.”
About Kennedy Wilson
Kennedy Wilson (NYSE:KW) is a global real estate investment company. We
own, operate, and invest in real estate both on our own and through our
investment management platform. We focus on multifamily and commercial
properties located in the Western U.S., UK, Ireland, Spain, Italy and
Japan. To complement our investment business, the Company also provides
real estate services primarily to financial services clients. For
further information on Kennedy Wilson, please visit: www.kennedywilson.com.
Special Note Regarding Forward-Looking Statements
Statements in this press release that are not historical facts are
“forward-looking statements” within the meaning of U.S. federal
securities laws. These forward-looking statements are estimates that
reflect our management’s current expectations, are based on assumptions
that may prove to be inaccurate and involve known and unknown risks.
Accordingly, our actual results or performance may differ materially and
adversely from the results or performance expressed or implied by these
forward-looking statements, including for reasons that are beyond our
control. Accordingly, you should not unduly rely on these statements,
which speak only as of the date of this press release. We assume no duty
to update the forward-looking statements, except as may be required by
law.
KW-IR

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Kennedy Wilson
Investors
Daven Bhavsar, CFA
Director
of Investor Relations
+1 (310) 887-3431
[email protected]
or
Media
Emily
Heidt
Director of Public Relations
+1 (310) 887-3499
[email protected]
Source: Kennedy Wilson