Kennedy Wilson Announces Pricing of Additional $100.0 Million Senior Notes

  Kennedy Wilson Announces Pricing of Additional $100.0 Million Senior Notes

Business Wire

BEVERLY HILLS, Calif. -- December 03, 2012

Kennedy-Wilson, Inc. ("Kennedy Wilson"), a wholly owned subsidiary of
international real estate investment and services firm Kennedy-Wilson
Holdings, Inc. (NYSE:KW), today announced that it priced its previously
announced offering of its 8.750% senior notes due 2019 (the "Additional
Notes") at an offering price of 105.250% of their principal amount, plus
accrued and unpaid interest from October 1, 2012. Kennedy Wilson increased the
size of the previously announced $75.0 million offering to $100.0 million
aggregate principal amount of Additional Notes. The Additional Notes will be
Kennedy Wilson’s senior unsecured obligations and will be guaranteed by
Kennedy-Wilson Holdings, Inc. and certain subsidiaries of Kennedy Wilson.
Interest on the Additional Notes will be payable semiannually on April 1 and
October 1 of each year, beginning on April 1, 2013. The Additional Notes are
being offered to “qualified institutional buyers” pursuant to Rule 144A of the
Securities Act of 1933, as amended (the “Securities Act”), and outside the
United States to persons other than “U.S. persons” in compliance with
Regulation S under the Securities Act. Following the required exchange offer
of the Additional Notes for registered notes, Kennedy Wilson expects that the
registered notes will be treated, together with the existing $250 million of
8.750% senior notes due 2019 previously issued by Kennedy Wilson, as a single
series of debt securities.

Kennedy Wilson intends to use the net proceeds from the Additional Notes for
working capital and general corporate purposes, including future acquisitions
and co-investments.

This news release is neither an offer to sell nor a solicitation of an offer
to buy the securities described above, nor shall there be any sale of any
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful.

The offer and sale of the Additional Notes will not be registered under the
Securities Act or any state securities laws, and unless so registered, the
Additional Notes may not be offered or sold in the United States or to U.S.
persons except pursuant to transactions that are exempt from, or not subject
to, the registration requirements of the Securities Act and applicable state
securities laws.

About Kennedy Wilson

Founded in 1977, Kennedy Wilson is an international real estate investment and
services company headquartered in Beverly Hills, California, with 24 offices
in the United States, United Kingdom, Ireland, Spain and Japan. The company
offers a comprehensive array of real estate services, including auction,
conventional sales, property services, research and investment management.
Through its fund management and separate account businesses, Kennedy Wilson is
a strategic investor of real estate investments in the United States, United
Kingdom, Ireland and Japan.


Kennedy Wilson
Christina Cha, 310-887-6294
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