30th Jun 2015 08:12
LONDON (Alliance News) - Kennedy Wilson Europe Real Estate PLC on Tuesday said it has successfully closed its GBP300 million senior unsecured bond issue.
The bond has an annual fixed coupon of 3.95%, which was effectively reduced to 3.35% as a result of Kennedy Wilson entering into swap arrangements to convert 50% of the proceeds into euros, it said.
The bonds will mature on June 30, 2022. The issue was run by JPMorgan Cazenove as global coordinator, with the bank also acting as a joint lead manager alongside Bank of America Merrill Lynch and Deutsche Bank.
"We are very pleased to have closed our inaugural Unsecured Bond which provides the business with flexible capital which will be accretive to our acquisition strategy," said Chief Executive and President Mary Ricks.
Shares in Kennedy Wilson were up 0.3% to 1,134.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Kennedy Wilson Europe Real Estate