Kennedy Wilson Europe Real Estate has entered into a three-year unsecured floating rate revolving debt facility of up to GBP 225 million with several other banks in a syndicate that includes Deutsche Bank AG and JP Morgan, with Bank of America Merrill Lynch.
Kennedy Wilson intends to use the funds for general corporate purposes, including acquisitions of property and loan assets, meeting working capital requirements, and payment of capital expenses. The debt facility has a maturity date of August 29, 2017, with drawdown being available up until that date. The company said it has not yet drawn down any funds under the debt facility.
