BEVERLY HILLS, Calif.--(BUSINESS WIRE)--
Kennedy-Wilson, Inc. (“Kennedy Wilson”), a wholly owned subsidiary of global real estate investment company Kennedy-Wilson Holdings, Inc. (NYSE: KW) has redeemed all $55 million in aggregate principal amount of its 7.75% Senior Notes due 2042 (the “Senior Notes”) at a redemption price equal to 100% of the principal amount.
Accrued interest on the Senior Notes was also paid on December 1, 2017 to all holders of record of the Senior Notes as of the close of business on November 15, 2017.
“We are continually focused on seeking opportunities to lower our weighted average cost of borrowing, which stood at 3.8% as of September 30,” said Matt Windisch, Kennedy Wilson Executive Vice President. “The pay-off of this 7.75% debt in conjunction with the recent refinance of our construction loan at Clancy Quay in Dublin, Ireland is a great example of that strategy in action, as we secured a new €45 million loan with a fixed-rate of 2.03% maturing in 2025.”
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 U.S., UK, Ireland, Spain, Italy and Japan. To complement our investment business, the Company also provides real estate services primarily to financial services clients. For further information on Kennedy Wilson, please visit: www.kennedywilson.com.
Special Note Regarding Forward-Looking Statements
Statements in this press release that are not historical facts are “forward-looking statements” within the meaning of U.S. federal securities laws. These forward-looking statements are estimates that reflect our management’s current expectations, are based on assumptions that may prove to be inaccurate and involve known and unknown risks. Accordingly, our actual results or performance may differ materially and adversely from the results or performance expressed or implied by these forward-looking statements, including for reasons that are beyond our control. Accordingly, you should not unduly rely on these statements, which speak only as of the date of this press release. We assume no duty to update the forward-looking statements, except as may be required by law.
KW-IR
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