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FINWIRES

Kennedy Wilson Launches $1.80 Billion Private Offering of Senior Notes

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Kennedy-Wilson Holdings (KW) said Tuesday its unit commenced a private placement of $1.8 billion in senior debt maturing in 2031 and 2033.

The company intends to use the net proceeds to retire existing notes due in 2029 and 2030 upon the completion of its pending merger, the company said.

Remaining proceeds will be directed toward acquiring 2031 notes, reducing unsecured credit facility balances, and for general corporate operations, Kennedy Wilson said.

The raised capital will be held in escrow if the transaction closes before the merger and requires a full mandatory redemption if the buyout is not closed by Nov. 16, the company added.

Price: $11.01, Change: $-0.02, Percent Change: -0.23%

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