NOTICE OF MAKE WHOLE REDEMPTION AMOUNT

Kennedy Wilson Europe Real Estate

16 December 2024

 

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

[e-mail]

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

 

END