BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Dec. 3, 2012--
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 it intends to
offer, subject to market conditions and other factors, an additional $75
million of its 8.750% Notes due 2019 (the "Additional Notes"). The
Additional Notes will be Kennedy Wilson’s senior unsecured obligations
and will be guaranteed by Kennedy-Wilson Holdings, Inc. and certain
subsidiaries of Kennedy Wilson. The Additional Notes are being offered
to “qualified institutional buyers” pursuant to Rule 144A of the
Securities Act of 1933, as amended (the “Securities Act”), and outside
the United States to persons other than “U.S. persons” in compliance
with Regulation S under the Securities Act. Following the required
exchange offer of the Additional Notes for registered notes, Kennedy
Wilson expects that the registered notes will be treated, together with
the existing $250 million of 8.750% senior notes due 2019 previously
issued by Kennedy Wilson, as a single series of debt securities.
Kennedy Wilson intends to use the net proceeds from the Additional Notes
for working capital and general corporate purposes, including future
acquisitions and co-investments.
This news release is neither an offer to sell nor a solicitation of an
offer to buy the securities described above, nor shall there be any sale
of any securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
The offer and sale of the Additional Notes will not be registered under
the Securities Act or any state securities laws, and unless so
registered, the Additional Notes may not be offered or sold in the
United States or to U.S. persons except pursuant to transactions that
are exempt from, or not subject to, the registration requirements of the
Securities Act and applicable state securities laws.
About Kennedy Wilson
Founded in 1977, Kennedy Wilson is an international real estate
investment and services company headquartered in Beverly Hills,
California, with 24 offices in the United States, United Kingdom,
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 United States,
United Kingdom, Ireland and Japan.
Source: Kennedy-Wilson Holdings, Inc.
Kennedy Wilson
Christina Cha, 310-887-6294