Kennedy-Wilson lifts revolver to $140 million, extends maturity

By Marisa Wong

Madison, Wis., Sept. 20 - Kennedy-Wilson Holdings, Inc.'s wholly owned subsidiary, Kennedy-Wilson, Inc., amended on Sept. 19 its revolving loan agreement with U.S. Bank NA as administrative agent and U.S. Bank, East-West Bank and the Bank of Ireland as lenders to increase the amount available by $40 million to a total of $140 million, according to an 8-K filing with the Securities and Exchange Commission.

The company also extended the maturity date of the facility to Oct. 1, 2016.

Under the terms of the amended agreement, any subsidiary guarantors under the borrower's 8¾% senior notes due 2019 and 7¾% senior notes due 2042 will need to provide repayment guarantees of the loans under the revolver agreement.

As of Sept. 19, the borrower had no outstanding balance under the revolver, and the full amount was available to be drawn.

Kennedy-Wilson is a Beverly Hills, Calif.-based real estate investment and services company.

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