Kennedy Wilson to Offer $200M of Additional 5.875% Senior Notes Due 2024
Kennedy-Wilson, Inc. (“Kennedy Wilson”), a wholly owned subsidiary of global real estate investment company Kennedy-Wilson
Holdings, Inc. (NYSE: KW), today announced that it intends to offer, subject to market conditions and other factors,
$200 million aggregate principal amount of its 5.875% senior notes due 2024 (the “Notes”). The Notes will be issued as additional
notes under the indenture pursuant to which Kennedy Wilson previously issued $650 million aggregate principal amount of its 5.875%
Senior Notes due 2024 (the “Initial Notes”) in 2014. The Notes will have substantially identical terms as the Initial Notes and
will be treated as a single series with the Initial Notes under the indenture. Holders of the Notes and the Initial Notes will vote
as one class under the indenture. The Notes will be Kennedy Wilson’s senior unsecured obligations and will be guaranteed by
Kennedy-Wilson Holdings, Inc. and certain subsidiaries of Kennedy Wilson.
Kennedy Wilson intends to use a portion of the net proceeds from the offering to repay $60.0 million of the outstanding balance
under its unsecured revolving credit facility, and the remainder for general corporate purposes, which may include future
acquisitions, co-investments, capital expenditures and the repayment of other outstanding indebtedness.
The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange
Commission (“SEC”). A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been
filed with the SEC and is available on its website at www.sec.gov.
In connection with the offering, BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan and US Bancorp are acting as joint
book-running managers. Copies of the preliminary prospectus supplement and, when available, the final prospectus supplement,
together with the accompanying prospectus, may be obtained from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or email: dg.prospectus_requests@baml.com, or from Deutsche Bank Securities, 60 Wall Street, New York, NY 10005-2836,
Attention: Prospectus Group, or email: prospectus.cpdg@db.com, or Tel:
1-800-503-4611, or from J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Tel:
1-866-803-9204, or from US Bancorp, 214 N. Tryon St., 26th Floor, Charlotte, NC 28202, or Tel: 1-877-558-2607.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other jurisdiction in which the offer, solicitation or sale would be unlawful prior to
registration or qualification under the security laws of that state or other jurisdiction.
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 United
States, the United Kingdom, Ireland, Spain, Italy and Japan. To complement our investment business, we also provide real estate
services primarily to financial services clients.
Kennedy Wilson
Daven Bhavsar
Director of Investor Relations
(310) 887-3431
dbhavsar@kennedywilson.com
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