Carey Olsen has advised Jersey-based LSE-listed property company Kennedy Wilson Europe Real Estate on the successful close of its £300 million debut senior unsecured bond.
The unsecured bond has an annual fixed coupon to the Company of 3.95 per cent, which was effectively reduced to 3.35 per cent as a result of KWE entering into swap arrangements to convert 50 per cent of the proceeds into Euros. Interest on the unsecured bond is payable annually in arrears on 30 June of each year, commencing on 30 June 2016. The Unsecured Bonds will mature on 30 June 2022.
The Carey Olsen team that advised on the Jersey aspects of the transaction comprised of KWE’s relationship Partner James Mulholland and debt capital markets Partner Simon Marks assisted by Senior Associate Claire Le Quesne. Allen & Overy was lead counsel to KWE.