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Kennedy-Wilson unit offers $250M of additional senior notes

Kennedy-Wilson Holdings Inc. unit Kennedy Wilson Inc. is offering an additional $250 million of its 5.875% senior notes due 2024.

The additional notes will be treated as a single series with the unit's previously issued $900 million of notes due 2024.

Kennedy Wilson intends to use the proceeds from the offering to pay down the entire amount drawn on its revolving credit facility and a portion of the amount outstanding under its term loan facility.