We advised the initial purchasers on the high-yield notes offering

Davis Polk advised the representative of the several initial purchasers in connection with a Rule 144A / Regulation S offering of $1.1 billion aggregate principal amount of 7.000% senior notes due 2031 and $700 million aggregate principal amount of 7.250% senior notes due 2033 by Kennedy-Wilson, Inc., a wholly owned subsidiary of Kennedy-Wilson Holdings, Inc. Upon satisfaction of certain escrow conditions, the proceeds of the notes will be used to redeem in full Kennedy-Wilson, Inc.’s existing notes due 2029 and 2030 and to make an offer to purchase Kennedy-Wilson, Inc.’s existing notes due 2031 in connection with the pending take-private transaction led by certain senior executives of Kennedy-Wilson Holdings, Inc.

Kennedy-Wilson is a leading global real estate investment company. It owns, operates and invests in real estate through its balance sheet and through its investment management platform. The company focuses on multifamily and office properties located in the United States, United Kingdom and Ireland.

The Davis Polk capital markets team included partner Pedro J. Bermeo and associates Kanger Jin, Lik Hang (Lincoln) Jim, Jared A. Bivens and Ryan (Yudu) Zang. Partner Phoebe Jin and counsel Benjamin Cheng provided finance advice. Partner Lucy W. Farr and associates Valentin Van de Walle and Peyton Williams provided tax advice. All members of the Davis Polk team are based in the New York office.

Copy link to share post