肯尼迪·威尔逊定价18亿美元优先票据

2026-05-12 23:10

Kennedy Wilson (KW) said on Tuesday it had initiated a private offering of $1.8B aggregate principal amount of senior notes due 2031 and 2033.
Proceeds from the offering would be used to redeem existing 4.750% senior notes due in 2029 and 2030, subject to completion of the merger.
The company added that remaining proceeds could be used to repurchase 5% notes due in 2031, repay borrowings under its unsecured credit facility, and fund general corporate purposes.
Kennedy Wilson had entered into a merger agreement with Kona Bidco and Kona Merger Subsidiary, entities affiliated with a consortium led by Chairman and CEO William McMorrow, certain company executives, and Fairfax Financial.
If the offering closes before completion of the merger, proceeds from the notes sale would be placed in escrow.
The notes would be subject to mandatory redemption at the issue price plus accrued interest if the merger is not completed by Nov. 16, 2026, or a later agreed-upon date.
Fairfax Financial had committed to cover any shortfall between funds held in escrow and the special mandatory redemption amount.

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