On October 15, 2020, Kennedy Wilson Europe Real Estate Limited, a wholly-owned subsidiary of Kennedy-Wilson Holdings, Inc. announced the results of the previously announced cash tender offer for up to £325.0 million in aggregate nominal amount of its £500.0 million outstanding sterling-denominated 3.95% bonds due 2022. The Tender Offer expired at 4:00 p.m., London time, on October 14, 2020. As of the Expiration Deadline, £130,190,000 in aggregate nominal amount of the Bonds, or 26.04% of the £500.0 million aggregate nominal amount of the Bonds outstanding prior to the Tender Offer, had been validly tendered for purchase pursuant to the Tender Offer. KWE accepted for purchase all of the Bonds validly tendered pursuant to the Tender Offer. As previously announced, the purchase price for the Bonds validly tendered and accepted for purchase pursuant to the Tender Offer was a price equal to 101% of the nominal amount of the relevant Bonds, plus accrued and unpaid interest to, but not including, October 22, 2020 (the anticipated settlement date for the Tender Offer). The total Tender Offer consideration of £133.1 million, including accrued and unpaid interest, will be funded from current cash on KWE’s balance sheet and proceeds from two of the four previously announced separate new secured financings over certain properties located in the United Kingdom and Ireland. KWE will receive a total of approximately £100.5 million of proceeds from the two loans and may, at its sole discretion but no later than November 30, 2020, enter into the additional two loans. Each of the loans under the Secured Financing has or will have a 3 year-term with two 1-year extension options at a rate of GBP LIBOR /EURIBOR, as applicable, plus 3%. There can be no assurance that KWE will incur indebtedness under one or both of the remaining Secured Financings.