Kennedy-Wilson has terminated its exchange offers for three series of senior notes and scrapped the related consent solicitations, ending a move that would have swapped existing debt for new longer-dated paper.
The company said holders of the 4.750% senior notes due 2029, the 4.750% senior notes due 2030 and the 5.000% senior notes due 2031 will not receive the proposed 6.125% senior notes due 2032 or 6.375% senior notes due 2034. Any notes tendered in the exchange offers will be returned, and the proposed amendments to the indentures governing the existing notes will not take effect.
The debt exchange termination comes as Kennedy-Wilson moves toward a separate acquisition by a consortium led by chairman and CEO William McMorrow and other senior executives, together with Fairfax Financial Holdings. The company said that transaction is still expected to close in the second quarter of 2026.
Kennedy-Wilson said it has $36 billion of assets under management and has closed more than $60 billion in total transactions since going public in 2009. Today the company's shares have moved 0.09% to a price of $10.93. For the full picture, make sure to review Kennedy-Wilson's 8-K report.
