Kennedy-Wilson extends revolver to 2015, lifts size to $100 million

By Susanna Moon

Chicago, June 29 - Kennedy-Wilson, Inc. lenders granted another $25 million of capacity under its revolving loan agreement, lifting the total size to $100 million.

The loan terms were extended until July 1, 2015.

The company amended its loan agreement Friday with U.S. Bank NA as administrative agent and U.S. Bank and East-West Bank as lenders, according to an 8-K filing with the Securities and Exchange Commission.

Interest on the loans is Libor plus 275 basis points.

The amendment adjusts the minimum rent-adjusted fixed charge coverage ratio to 1.5 times.

The Beverly Hills, Calif.-based real estate investment and services company is a wholly owned subsidiary of Kennedy-Wilson Holdings, Inc.

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