Kennedy-Wilson Holdings Inc Stock Price, News & Analysis

Kennedy Wilson announced the pricing of its offering of $100 million in senior notes: 4.75% due 2029 and 5.00% due 2031. The total offering size was increased from $150 million. The notes will be fungible with previously issued notes, totaling $1 billion. The net proceeds are expected to be around $201.9 million, aimed at redeeming $573.1 million of existing 5.875% senior notes due 2024, and reducing revolving credit. Closing is anticipated on March 15, 2021. The offering follows SEC regulations and involves multiple financial institutions as managers.

Kennedy Wilson, a global real estate investment firm (NYSE:KW), has initiated a $150 million offering of senior notes, including 2029 and 2031 notes. These notes will supplement the previously issued $500 million in 4.75% and 5.00% senior notes. Proceeds will primarily be used to redeem $573.1 million of 5.875% senior notes due 2024. The offering is under an effective SEC registration statement, with multiple financial institutions managing the issuance. Kennedy Wilson focuses on multifamily and office properties in the U.S., U.K., and Ireland.

Kennedy-Wilson Holdings (NYSE: KW) reported its 2020 results, showing Q4 net income of $170 million and adjusted EBITDA of $346.9 million. Total assets stand at $7.3 billion, with a cash balance of $965 million. Key highlights include $789 million in asset dispositions generating $286 million in gains and $476 million in cash, alongside a 30% increase in fee-bearing capital to $3.9 billion. The company successfully refined its debt position by issuing $1 billion in bonds at an improved interest rate, aiming to enhance financial stability in the long term.

Kennedy Wilson (NYSE: KW) announced a quarterly dividend of $0.22 per share for common shareholders, with a record date of March 31, 2021 and a payment date of April 8, 2021. This dividend represents an annual yield of $0.88 per common share, reflecting the company's ongoing commitment to providing income to its shareholders. Kennedy Wilson is a prominent global real estate investment firm focusing on multifamily and office properties primarily in the Western U.S., U.K., and Ireland.

Kennedy Wilson (NYSE: KW) announced the results of its cash tender offer for up to $1 billion of its 5.875% Senior Notes due 2024. As of February 9, 2021, $576,465,000 of the notes were validly tendered. Holders of validly tendered notes will receive a Total Consideration of $1,015.00 per $1,000 principal amount, including a $30 Early Tender Premium. The Tender Offer expires on February 24, 2021, with subsequent tenders eligible for a lower consideration. The company reserves the right to increase the Maximum Tender Amount at its discretion.

Kennedy-Wilson announced the pricing of $1 billion in aggregate principal amount of senior notes: $500 million at 4.750% due 2029 and $500 million at 5.000% due 2031. The notes will be senior, unsecured obligations and guaranteed by Kennedy-Wilson Holdings. The estimated net proceeds of approximately $987 million will be used to repurchase up to $1 billion of outstanding 5.875% Senior Notes due 2024. The offering will close on February 11, 2021, with interest payments starting on September 1, 2021.

Kennedy Wilson announced plans to offer $1 billion in senior notes, maturing in 2029 and 2031, subject to market conditions. These notes are to be used to repurchase outstanding 5.875% senior notes due in 2024 and cover related transaction costs. The offering is made under an effective shelf registration statement filed with the SEC. Joint book-running managers include BofA Securities and J.P. Morgan. The company warns that actual results may differ due to market conditions and other risks related to its business.

Kennedy Wilson (NYSE: KW) has launched a cash tender offer to repurchase up to $1 billion of its 5.875% Senior Notes due 2024. As of January 27, 2021, $1.15 billion in Notes were outstanding. The tender offer will expire at midnight on February 24, 2021, unless extended. Holders who tender their Notes by February 9, 2021, can receive a total consideration of $1,015 per $1,000 principal amount, including an early tender premium of $30. The offer is not subject to a minimum tender condition and will be managed by BofA Securities.

Kennedy Wilson (NYSE: KW) will announce its fourth quarter and full year 2020 financial results on February 24, 2021, after market closure. A live conference call is scheduled for February 25, 2021, at 7:00 a.m. PT / 10:00 a.m. ET, where management will discuss the results. U.S. callers can join at (844) 340-4761, while international participants can dial +1 (412) 717-9616. A replay of the call will be available for one week post-event. For more details, visit www.kennedywilson.com.