New York, Oct. 17 - Kennedy-Wilson, Inc. placed $30 million of convertible subordinated debt with investor Guardian Life Insurance Co. of America.
Full details of the securities were not disclosed but the transaction gives Guardian a 10% stake in the company.
Kennedy Wilson, a Beverly Hills, Calif.-based real estate services and investment firm, said the additional funds allow it to take maximum advantage of the current opportunities in all sectors of the real estate investment, distressed debt and services businesses.
| Issuer: | Kennedy-Wilson, Inc.
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| Issue: | Convertible subordinated debt
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| Amount: | $30 million
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| Investor: | Guardian Life Insurance Co. of America
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| Announcement date: | Oct. 17
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| Stock symbol: | Pink Sheets: KWIC
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| Stock price: | $39.00 at close Oct. 17
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