LONDON - Kennedy Wilson Europe Real Estate Limited, a European real estate investment company, has confirmed the redemption amount for a portion of its outstanding Euro-denominated notes. In a statement released today, the company detailed the financial specifics of the transaction set to occur on Wednesday.
The company will redeem €175,751,843.97 of its 3.250% notes due in 2025, at a rate of €1,004.30 per note, in addition to accrued interest of €3.21 per note. This redemption follows an earlier notice from November 7, 2024, where the firm announced its intention to exercise its right to redeem these notes under certain terms and conditions specified at the issuance of the notes.
Chatham Financial Europe, Ltd, appointed and approved by the trustee as the financial adviser, calculated the "Make Whole Redemption Amount" in line with the conditions set forth in the notes' final terms. The cancellation of the redeemed notes is in accordance with the agreed terms, and they will not be re-issued or resold.
After the redemption, which will take place on the Optional Redemption Date, €300 million in aggregate nominal amount of the notes will remain outstanding. This move is part of the company's financial management strategies, as it continues to navigate the European real estate investment landscape.
This transaction is subject to regulations of the Market Abuse Regulation (EU) 596/2014, which requires disclosure of inside information. The remaining details of the redemption and the company's contact information for investor relations were provided in the statement.
The information is based on a press release statement from Kennedy Wilson Europe Real Estate Limited and is disseminated by RNS, the news service of the London Stock Exchange (LON:LSEG).
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