Kennedy Wilson Europe Real Estate Ltd (“KWE”), a wholly-owned subsidiary of Kennedy-Wilson Holding, Inc., has both Sterling and Euro-denominated unsecured bonds trading on the London Stock Exchange.
We maintain prudent hedging policies against interest rates and foreign exchange exposure. A significant proportion of our borrowings are fixed in nature or hedged by way of interest rate caps. Euro assets are hedged through a combination of Euro-denominated borrowings and derivatives.
KWE has an investment grade credit rating of BBB- from Standard and Poor’s. We maintain a conservative financial profile which targets strong liquidity, a staggered debt maturity and a balanced capital structure of low-cost secured and unsecured borrowings.
|Debt mix Dec 2019|
|Term to maturity||Average cost of debt|
|Secured debt||Unsecured debt|
|Term to maturity||3.6 years||Term to maturity||4.1 years|
|Total fixed cost||2.5%||Total fixed cost||3.5%|
|Total fixed/hedged debt||95.8%||Fixed debt||100%|