News Column

Kennedy Wilson Europe Real Estate Signs GBP225 Million Debt Facility

September 1, 2014

Anthony Tshibangu

LONDON (Alliance News) - Kennedy Wilson Europe Real Estate PLC Monday said it has entered into a three-year unsecured floating rate revolving debt facility of up to GBP225 million with a syndicate of banks comprising Deutsche Bank AG and JP Morgan, with Bank of America Merrill Lynch as mandated lead arranger.

FTSE 250-listed Kennedy Wilson said it intends to use the funds available under the debt facility for general corporate purposes, including acquisitions of property and loan assets, meeting working capital requirements, and payment of capital expenses.

The debt facility has a maturity date of August 29, 2017, with drawdown being available up until that date. The company said it has not yet drawn down any funds under the debt facility.

Kennedy Wilson shares were quoted up 1.0% at 1,109.00 pence Monday morning.

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Source: Alliance News

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