Kennedy-Wilson prices $1.8B notes (7%/7.25%) for refinancing ahead of merger

Kennedy-Wilson Holdings, Inc.

Offering: $1.1B of 7.000% senior notes due 2031; $700M of 7.250% senior notes due 2033.
Proceeds to redeem existing 4.750% notes (2029/2030), offer to purchase 5.000% notes (2031), and repay credit facility.
Notes contingent on merger closing by Nov 16, 2026; if not, special mandatory redemption at par plus interest; Fairfax funds shortfall.
Merger (led by CEO William McMorrow, Fairfax) will result in company guaranteeing notes; deal announced Feb 16, 2026.
Pricing occurred May 14, 2026; notes offered under Rule 144A/Reg S.

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