Kennedy-Wilson starts roadshow for $200 million eight-year notes

By Paul A. Harris

Portland, Ore., March 28 - Kennedy-Wilson, Inc. began a roadshow on Monday for a $200 million offering of eight-year senior notes (B1/BB-/), according to an informed source.

The Rule 144A with registration rights deal is expected to price later this week.

Merrill Lynch and Morgan Stanley & Co. Inc. are the joint bookrunners. JMP Securities and CJS Securities, Inc. are the co-managers.

The notes come with four years of call protection and feature a 101% poison put.

The Beverly Hills, Calif.-based real estate investment and services company plans to use the proceeds to repay all outstanding borrowings under its unsecured revolving credit facility and for general corporate purposes.

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