Kennedy Wilson announces $1.8B senior notes offering

Kennedy-Wilson commenced a private offering of $1.8B in aggregate principal amount of senior notes, consisting of senior notes due 2031 and senior notes due 2033 pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. If the Merger is consummated, the Company expects to use the net proceeds from the Offering to redeem in full the Issuer’s 4.750% senior notes due 2029 and 4.750% senior notes due 2030, and pay any related premiums, if any, fees and expenses, including accrued and unpaid interest with respect to the 2029 Existing Notes and 2030 Existing Notes, to make an offer to purchase the 5.000% senior notes due 2031 pursuant to the fundamental change provisions of the indenture governing the 2031 Existing Notes, and the remainder, if any, to repay all or a portion of the indebtedness outstanding under the Issuer’s unsecured credit facility and/or for general corporate purposes.