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Kennedy-Wilson unit obtains €284M refinancing for 7 Irish assets

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Kennedy-Wilson unit obtains €284M refinancing for 7 Irish assets

Kennedy-Wilson Holdings Inc.'s European unit completed two refinancings for a total of €284.0 million with the Bank of Ireland.

The amount was refinanced for seven of its assets located primarily in Dublin, including four offices, namely 40-42 Mespil Road, South Bank House, the Warehouse, and Russell Court, St. Stephens Green. The remaining three assets include two shopping centers — Stillorgan Shopping Centre, Co. Dublin, and Marshes Shopping Centre, Dundalk — and a multifamily property, Alto Vetro.

The refinancing extended the weighted average term to maturity to 5.1 years, reduced the weighted average cost of the floating rate debt, and released €54.0 million of equity.