Kennedy Wilson Europe gets £225 million facility led by Merrill Lynch

By Marisa Wong

Madison, Wis., Sept. 2 – Kennedy Wilson Europe Real Estate plc announced it entered into a £225 million three-year unsecured floating-rate revolving debt facility with a syndicate of banks including Bank of America Merrill Lynch as lead arranger as well as Deutsche Bank and JPMorgan.

The facility matures on Aug. 29, 2017, with drawdown available up to that date. The company has not yet made any drawdowns, according to a press release.

The company said it intends to use funds for general corporate purposes, including acquisitions of property and loan assets, meeting working capital requirements and paying capital expenses.

Kennedy Wilson Europe is an investment vehicle sponsored and managed by Kennedy Wilson Holdings, Inc., a Beverly Hills, Calif.-based real estate investment firm.

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