Kennedy Wilson launches tender offer for 2031 notes, redeems other debt

Kennedy-Wilson Inc., a subsidiary of Kennedy Wilson Holdings Inc. (NYSE: KW), announced a cash tender offer for all outstanding 5.000% senior notes due 2031, valued at $600 million. The company will pay $1,010 per $1,000 principal amount, representing 101% of face value, plus accrued interest.

The tender offer connects to a proposed merger involving Kennedy Wilson Holdings and a consortium led by Chairman and CEO William McMorrow, along with other executives and Fairfax Financial Holdings Limited. The merger agreement was signed February 16, 2026, and amended March 15, 2026.

The offer expires June 15, 2026, at 5:00 p.m. New York time, with settlement expected June 16, 2026. Noteholders can withdraw tenders until the withdrawal deadline. The tender offer requires completion of the merger as a condition.

Kennedy-Wilson Inc. also issued redemption notices for its 4.750% senior notes due 2029 and 4.750% senior notes due 2030, with redemption scheduled for June 16, 2026. The redemption depends on merger completion and issuance of at least $1.8 billion in senior debt.

The company priced a $1.8 billion private debt offering May 14, 2026, consisting of $1.1 billion in 7.000% senior notes due 2031 and $700 million in 7.250% senior notes due 2033. The offering is expected to close around May 29, 2026.

Kennedy Wilson Holdings operates as a real estate investment company with $36 billion in assets under management across the United States, United Kingdom and Ireland. D.F. King & Co. serves as tender and information agent for the offer.

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