Kennedy-Wilson Closes $500M Notes Offering, Redeems 2025 Notes

TL;DR

KW just closed a $500M debt offering and paid off their 2025 notes. Maturity extended.

AI Summary

On April 10, 2025, Kennedy-Wilson Holdings, Inc. announced the closing of its previously disclosed offering of $500 million aggregate principal amount of 5.875% senior notes due 2032. The company also announced the concurrent redemption of its outstanding 5.000% senior notes due 2025. This transaction is expected to extend the company's debt maturity profile.

Why It Matters

This move by Kennedy-Wilson Holdings, Inc. extends their debt maturity profile, potentially improving financial flexibility and reducing near-term refinancing risk.

Risk Assessment

Risk Level: medium — The company is managing its debt maturity profile, which involves financial risk associated with interest rate changes and refinancing capabilities.

Key Numbers

• $500.0M — Senior Notes Offering (Aggregate principal amount of new debt issued)
• 5.875% — Interest Rate (New Notes) (Coupon rate for the 2032 senior notes)
• 5.000% — Interest Rate (Redeemed Notes) (Coupon rate for the 2025 senior notes that were redeemed)

Key Players & Entities

• Kennedy-Wilson Holdings, Inc. (company) — Registrant
• $500 million (dollar_amount) — Aggregate principal amount of senior notes offered
• 5.875% (dollar_amount) — Interest rate on senior notes due 2032
• 2032 (date) — Maturity year of new senior notes
• 5.000% (dollar_amount) — Interest rate on senior notes due 2025
• 2025 (date) — Maturity year of senior notes being redeemed
• April 10, 2025 (date) — Date of the event

FAQ

From the Filing

0001408100-25-000102.txt : 20250414 0001408100-25-000102.hdr.sgml : 20250414 20250414062002 ACCESSION NUMBER: 0001408100-25-000102 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20250410 ITEM INFORMATION: Other Events FILED AS OF DATE: 20250414 DATE AS OF CHANGE: 20250414 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Kennedy-Wilson Holdings, Inc. CENTRAL INDEX KEY: 0001408100 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] ORGANIZATION NAME: 05 Real Estate & Construction EIN: 260508760 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33824 FILM NUMBER: 25834147 BUSINESS ADDRESS: STREET 1: 151 S EL CAMINO DR CITY: BEVERLY HILLS STATE: CA ZIP: 90212 BUSINESS PHONE: 310-887-6400 MAIL ADDRESS: STREET 1: 151 S EL CAMINO DR CITY: BEVERLY HILLS STATE: CA ZIP: 90212 FORMER COMPANY: FORMER CONFORMED NAME: Prospect Acquisition Corp DATE OF NAME CHANGE: 20070727 8-K 1 kw-20250410.htm 8-K kw-20250410 0001408100 false 0001408100 2025-04-10 2025-04-10 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________ FORM 8-K _____________ CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 10, 2025 _____________ KENNEDY-WILSON HOLDINGS, INC. (Exact name of registrant as specified in its charter) _____________                  Delaware 001-33824 26-0508760  (State or other jurisdiction  of Incorporation) (Commission File Number) (IRS Employer Identification No.) 151 S El Camino Drive Beverly Hills , California 90212 (Address of principal executive offices)(Zip Code) ( 310 ) 887-6400 (Registrant’s telephone number, including area code) N/A (Former name or former address, if changed since last report) _____________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2.): ☐      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, $.0001 par value KW NYSE Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐    Item 8.01 Other Events. On April 10, 2025, Kennedy-Wilson Holdings, Inc., a Delaware corporation (the “Company”), completed a $510 million (€472 million) refinancing of existing mortgages secured by five multifamily assets primarily located in Dublin, Ireland. These assets are owned through an unconsolidated joint venture which the Company manages and holds a 50% ownership interest in. The new 5-year secured financing carries a floating all-in rate of approximately 4.2% (3 month Euribor + 1.95%) and replaced the previously existing $537 million mortgage (the “Previ