Kennedy Wilson Europe has issued £200m in new bonds at a yield of 3.572%.
The bonds will mature on 30 June 2022 along with the £300m 3.95% bonds the company had initially issued.
Kennedy Wilson said that the issue and settlement date for the new bonds is expected to be 19 September and the proceeds will be used to repay secured debt and for “general corporate purposes”.
Mary Ricks, president and chief executive of Kennedy Wilson Europe, said: “Today’s £200m bond issue is a further step in our continued progress towards moving to a more flexible debt structure with a greater proportion of unsecured finance, and we are very pleased with the result.
“90% of our total debt is now fixed rate or hedged and our overall debt term to maturity extends to 6.1 years, whilst maintaining an attractive cost of debt at 2.97%.”
Bank of America Merrill Lynch, Deutsche Bank and JP Morgan Cazenove acted as joint bookrunners.
Kennedy Wilson Europe posted strong first half results in August, with gross profits up 33% and adjusted earnings up 17%, year on year.
From August: KWE profit up 33% in H1
