THIS
ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014 (AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018)
NOTICE OF MAKE WHOLE
REDEMPTION AMOUNT
to the holders of the
outstanding
Euro-denominated 3.250 per cent. Notes
due 2025 (ISIN: XS1321149434)
(the "Notes")
issued by
Kennedy Wilson Europe Real Estate
Limited
(formerly known as Kennedy Wilson Europe
Real Estate Plc)
(the "Issuer")
NOTICE IS
HEREBY GIVEN to the holders of the Notes (the
"Noteholders") of the Make
Whole Redemption Amount, following the publication by the Issuer on
7 November 2024 of a notice announcing that it had elected to
redeem €175,000,000 in aggregate nominal amount
of the Notes in accordance with (i) Condition 6(d)
(Redemption at the Option of the
Issuer) of the Terms and Conditions of the Notes and the
Final Terms dated 10 November 2015 and 15 April 2016 in connection
with the Notes (together, the "Final Terms" and, together with the
Terms and Conditions of the Notes, the "Conditions") and (ii) the terms of the
permanent global note representing the Notes.
Terms used in this notice but not defined
herein shall have the meaning given them to in the
Conditions.
In accordance with Condition 6(d), the
aggregate nominal amount of the Notes called for redemption will be
redeemed on 18 December 2024 (the "Optional Redemption Date") at the
Optional Redemption Amount, being the Make Whole Redemption Amount
(each as defined and described in the Conditions), together with
interest accrued to (but excluding) the Optional Redemption
Date.
The Issuer appointed Chatham Financial Europe,
Ltd (such appointment having been approved by the Trustee in
accordance with Condition 6(d)) as the Financial Adviser for the
purposes of (i) obtaining the Reference Government Bond Dealer
Quotations and determining the Reference Bond Price and the
Reference Bond Rate as referenced in the definition of Make Whole
Redemption Amount in the Conditions and, in
particular, paragraph (ii) of the definition of Make Whole
Redemption Price and (ii) calculating the Make Whole Redemption
Amount.
Following the calculation of the Make Whole
Redemption Amount in accordance with Condition 6(d) on the date of
this notice, such date being the second business day in London
prior to the Optional Redemption Date and the Determination Date
for the purposes of Condition 6(d), the Make Whole Redemption
Amount per Calculation Amount amounting to a total of
€175,751,843.97 in respect of all of the Notes called for
redemption is hereby confirmed as €1,004.30. In addition, an amount
equal to €3.21 per Calculation Amount in respect of interest
accrued to (but excluding) the Optional Redemption Date shall be
payable, amounting to a total of €560,958.90 in respect of all of
the Notes called for redemption.
In accordance with the Conditions, all of the
Notes called for redemption will be cancelled and may not be
re-issued or resold.
Following the partial redemption of the Notes
on the Optional Redemption Date, €300,000,000
in aggregate nominal amount of the Notes will remain
outstanding.
For further information you may
contact:
Daven Bhavsar, CFA
Vice President of Investor Relations
dbhavsar@kennedywilson.com
This notice, which is irrevocable, is given by
Kennedy Wilson Europe Real Estate
Limited on 16 December
2024.
This notice is
released by the Issuer and contains information that qualified or
may have qualified as inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 (as it forms
part of domestic law by virtue of the European Union (Withdrawal)
Act 2018) ("MAR"), encompassing information relating to the partial
redemption of Notes described above. For the purposes of MAR and
Article 2 of Commission Implementing Regulation (EU) 2016/1055 (as
it forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018), this announcement is made by Padmini
Singla, General Counsel, Europe of the Issuer.
LEI Number: 213800WIL553Z1T6DZ52