Kennedy-Wilson gets $500 million amended and restated revolver

By Sara Rosenberg

New York, March 26 – Kennedy-Wilson Inc. closed on Wednesday on a $500 million amended and restated unsecured revolving credit facility due March 25, 2024, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

BofA Securities Inc. and JPMorgan Chase Bank acted as joint lead arrangers and joint bookrunners on the deal, and U.S. Bank acted as a joint lead arranger. BofA is the administrative agent.

Pricing on the revolver can range from Libor plus 175 basis points to 250 bps based on consolidated leverage.

The maturity date of the revolver may be extended up to two times, in six-month increments.

There is a $500 million accordion.

As of March 25, there are no borrowings outstanding under the revolver.

Kennedy-Wilson is a Beverly Hills, Calif.-based real estate investment company.

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