Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 133

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 133
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 30, 2025, Kennedy Wilson recorded a loss of $20.2 million in other comprehensive income due to the strengthening of the euro against the GBP during the period. The Company repaid the KWE Notes through a combination of cash on hand, proceeds from asset sales and drawing on its unsecured credit facility.      The trust deed that governs the bonds contains various restrictive covenants for KWE, including, among others, limitations on KWE’s and its material subsidiaries’ ability to provide certain negative pledges.  The trust deed limits the ability of KWE and its subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the incurrence of the new indebtedness, (1) KWE’s consolidated net indebtedness (as defined in the trust deed) would exceed 60% of KWE’s total assets (as calculated pursuant to the terms of the trust deed); and (2) KWE’s consolidated secured indebtedness (as defined in the trust deed) would exceed 50% of KWE’s total assets (as calculated pursuant to the terms of the trust deed).  The trust deed also requires KWE, as of each reporting date, to maintain an interest coverage ratio (as defined in the trust deed) of at least 1.50 to 1.00 and have unencumbered assets of no less than 125% of its unsecured indebtedness (as defined in the trust deed).  As of September 30, 2025, KWE was in compliance with these covenants, and, as of the date of this report, all KWE Notes have been redeemed and no KWE Notes remain outstanding.  Please also see "Subsequent Events."

NOTE 11—EQUITY

Dividend Distributions    Kennedy Wilson declared and paid the following cash distributions on its preferred and common stock:Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024(Dollars in millions)DeclaredPaidDeclaredPaidPreferred Stock$32.6 $32.6 $32.6 $32.6 Common Stock(1)49.7 51.5 66.1 83.7 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets.    Share-based Compensation        During each of the nine months ended September 30, 2025 and 2024, Kennedy Wilson recognized $19.