Kennedy Wilson Renews Unsecured Revolving Credit Facility
13 Setembro 2024 - 7:00AM
Business Wire
Credit facility has a three-year term and a
one year extension option; facility expands to $550 million
Global real estate investment company Kennedy Wilson (NYSE:KW)
today announced the expansion of its $500 million unsecured
revolving credit facility to $550 million in partnership with a
group of 10 banks. The new credit facility has a three-year term
and two six-month extension options.
Loans under the new credit facility bear interest at a rate
equal to SOFR plus a spread of 1.75% to 2.75%.
“This credit facility provides us with an efficient and flexible
source of funding that positions us to act quickly on opportunities
that we believe will continue to emerge in the short term,” said
Kennedy Wilson Chairman and CEO William McMorrow. “We appreciate
the support of our bank group in this expanded credit facility that
will enable us to build on the growth we have experienced in many
areas of our business this year.”
“We highly value the support from our bank group, including
those who have been with us for decades, as well as new
partnerships established through this facility,” said Matt
Windisch, President of Kennedy Wilson. “We are pleased to push the
fully extended maturity out to September 2028, and we believe that
the increase in the size of the facility reflects the continued
confidence in our business strategy moving forward.”
The revolving credit facility has current outstanding borrowings
of approximately $175 million. Bank of America, N.A. will serve as
administrative agent. BofA Securities, Inc., JPMorgan Chase Bank,
N.A., and M&T Bank acted as the joint lead arrangers.
About Kennedy Wilson
Kennedy Wilson (NYSE: KW) is a leading real estate investment
company with over $27 billion of assets under management in high
growth markets across the United States, the UK and Ireland.
Drawing on decades of experience, our relationship-oriented team
excels at identifying opportunities and building value through
market cycles, closing more than $50 billion in total transactions
across the property spectrum since going public in 2009. Kennedy
Wilson owns, operates, and builds real estate within our
high-quality, core real estate portfolio and through our investment
management platform, where we target opportunistic equity and debt
investments alongside our partners. For further information, please
visit www.kennedywilson.com.
Special Note Regarding Forward-Looking Statements
Statements in this press release that are not historical facts
are “forward-looking statements” within the meaning of U.S. federal
securities laws. These forward-looking statements are estimates
that reflect our management’s current expectations, are based on
our current estimates, expectations, forecasts, projections and
assumptions that may prove to be inaccurate and involve known and
unknown risks. Accordingly, our actual results, performance or
achievement, or industry results, may differ materially and
adversely from the results, performance or achievement, or industry
results, expressed or implied by these forward-looking statements,
including for reasons that are beyond our control. Some of the
forward-looking statements may be identified by words like
“believes”, “expects”, “anticipates”, “estimates”, “plans”,
“intends”, “projects”, “indicates”, “could”, “may” and similar
expressions. These statements are not guarantees of future
performance and involve a number of risks, uncertainties and
assumptions. We assume no duty to update the forward-looking
statements, except as may be required by law.
KW-IR
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240913188414/en/
Investors Daven Bhavsar, CFA Head of Investor Relations
+1 (310) 887-3431 dbhavsar@kennedywilson.com
Media Emily Heidt Vice President, Communications +1 (310)
887-3499 eheidt@kennedywilson.com
Kennedy Wilson (NYSE:KW)
Gráfico Histórico do Ativo
De Out 2024 até Out 2024
Kennedy Wilson (NYSE:KW)
Gráfico Histórico do Ativo
De Out 2023 até Out 2024