debtconfidence high
Kennedy-Wilson announces $1.8B senior notes offering to refinance debt ahead of going-private merger
Kennedy-Wilson Holdings, Inc.
- Offering of $1.8B aggregate principal of senior notes due 2031 and 2033 via Rule 144A/Reg S.
- Proceeds to redeem existing 4.750% notes due 2029/2030, offer to purchase 5.000% notes due 2031, and repay credit facility.
- Notes escrowed until merger close; special mandatory redemption at 100% if merger not consummated by Nov 16, 2026.
- Fairfax has committed to fund any shortfall between escrow funds and special mandatory redemption price.
- Merger is with consortium led by CEO William McMorrow and Fairfax; notes will be guaranteed upon close.
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