Kennedy-Wilson greenshoe exercised, lifts notes sale by $5 million

By Tali David

Minneapolis, Dec. 14 - Underwriters for Kennedy-Wilson Holdings, Inc.'s 7.75% senior notes due Dec. 1, 2042 exercised their over-allotment option to purchase an additional $5 million of the notes, according to an 8-K filed with the Securities and Exchange Commission.

The company sold $50 million of the $25-par senior notes on Nov. 21.

As previously reported, Morgan Stanley & Co. LLC and Bank of America Merrill Lynch were the joint bookrunners.

Proceeds will be used for general corporate purposes, including acquisitions and co-investments. The company may also use funds to repay outstanding balances under an unsecured revolving credit facility.

Kennedy-Wilson is a Beverly Hills-based real estate investment and services company.

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