Kennedy Wilson Reveals Expansion Of Its $500M Unsecured Revolving Credit Facility To $550M In Partnership With Group Of 10 Banks
Portfolio Pulse from Benzinga Newsdesk
Kennedy Wilson has expanded its unsecured revolving credit facility from $500M to $550M in collaboration with 10 banks. The facility has a three-year term with two six-month extensions, and loans will bear interest at SOFR plus a spread of 1.75% to 2.75%.
September 13, 2024 | 10:04 am
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Kennedy Wilson has increased its unsecured revolving credit facility to $550M, enhancing its financial flexibility. The facility has a three-year term with interest rates tied to SOFR plus a spread.
The expansion of the credit facility provides Kennedy Wilson with increased financial flexibility, which is positive for its operations and potential growth. The favorable interest terms tied to SOFR indicate a well-negotiated deal, likely to be viewed positively by investors.
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