Kennedy-Wilson Secures $550M Revolving Credit Facility

The latest announcement is out from Kennedy-Wilson ( (KW) ).

Kennedy-Wilson, Inc. has revamped its credit facilities, entering into a $550 million unsecured revolving credit agreement with a syndicate of banks, enhancing its financial flexibility until September 2027. With the potential to extend the maturity date and increase the facility to $1 billion, the company secures a competitive interest rate tied to SOFR with a spread based on its leverage ratio. The agreement contains covenants typical for such arrangements, ensuring prudent financial management by limiting certain company actions and maintaining specific financial ratios.

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