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KW > SEC Filings for KW > Form 8-K on 20-Sep-2013All Recent SEC Filings

Show all filings for KENNEDY-WILSON HOLDINGS, INC.



Entry into a Material Definitive Agreement, Financial Statements an


On September 19, 2013, Kennedy-Wilson, Inc. (the "Borrower"), a wholly-owned subsidiary of Kennedy-Wilson Holdings, Inc. (the "Registrant"), amended its existing Revolving Loan Agreement (as amended to date, the "Loan Agreement") by entering into a Second Modification Agreement (the "Modification Agreement") with U.S. Bank National Association, a national banking association ("U.S. Bank"), as administrative agent (the "Agent"), and U.S. Bank, East-West Bank, a California banking corporation and The Governor and Company of the Bank of Ireland, as lenders (the "Lenders"). Pursuant to the terms of the Modification Agreement, the total principal amount available to be borrowed by the Borrower was increased by an additional $40.0 million, for an aggregate of $140.0 million ("Loan Amount"). As of September 19, 2013, the Borrower had no outstanding balance under the Loan Agreement and the full Loan Amount was available to be drawn by the Borrower. The Modification Agreement also extends the maturity date of the Loan Agreement to October 1, 2016. Under the terms of the Modification Agreement, any subsidiary guarantors under the Borrower's 8.750% Senior Notes due 2019 and 7.750% Senior Notes due 2042 will need to provide repayment guarantees of the loans under the Loan Agreement.

The foregoing description of the Modification Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Modification Agreement, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.

In connection with the Modification Agreement, the Registrant also entered into a Consent of Guarantor, pursuant to which the Registrant reaffirmed its obligations in favor of the Agent and the Lenders under its existing Repayment Guaranty.


(d) Exhibits.

10.1 Second Modification Agreement, dated September 19, 2013, by and among Kennedy-Wilson, Inc., U.S. Bank National Association, as administrative agent, U.S. Bank National Association, as lender, East-West Bank, as lender and The Governor and Company of the Bank of Ireland, as lender.

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