Kennedy-Wilson Holdings repurchases $30 million 7% convertible note

By Devika Patel

Knoxville, Tenn., July 29 - Kennedy-Wilson Holdings, Inc. repurchased a $30 million 7% convertible subordinated note due Nov. 3, 2018 from the Guardian Life Insurance Co. of America on July 26, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The company paid $32.55 million for the note. It also plans to buy back 1 million common shares that Guardian holds.

To fund the note repurchase, the company plans to sell $32.55 million of series B preferred stock on Aug. 13.

Kennedy Wilson is a real estate services and investment firm based in Beverly Hills, Calif.

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