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Published on 9/8/2021 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Kennedy-Wilson delays redemption of 3.95% bonds due 2022 to Oct. 11

By Marisa Wong

Los Angeles, Sept. 8 – Kennedy-Wilson Holdings, Inc. wholly owned subsidiary Kennedy-Wilson Europe Real Estate Ltd. issued an amendment to the early redemption of its sterling-denominated 3.95% senior bonds due 2022 (ISIN: XS1117292554), according to a notice.

The company will now redeem the bonds in full on Oct. 11 instead of Sept. 10.

The make-whole redemption price will be announced on Oct. 7, rescheduled from Sept. 8.

As of Aug. 10, there was £219.81 million principal amount outstanding.

The redemption will be funded with proceeds from an offering of new notes due 2030 by Kennedy-Wilson Holdings and cash on hand.

Kennedy-Wilson Holdings is a subsidiary of Kennedy-Wilson Inc., a Beverly Hills, Calif.-based real estate company.


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