KKR Real Estate launches add-on of 6.5% $25-par series A preferreds

By Marisa Wong

Los Angeles, Jan. 6 – KKR Real Estate Finance Trust Inc. announced it launched a public offering of additional shares of its 6.5% series A cumulative redeemable preferred stock with a $25.00 per share liquidation preference.

This offering is a reopening of KKR’s previous issuance of 6.9 million shares of 6.5% preferred stock on April 16, 2021, according to a press release and 424B5 filing with the Securities and Exchange Commission. The additional shares will form a single series and be fully fungible with the existing shares.

Raymond James & Associates, Inc. and KKR Capital Markets LLC are the joint bookrunners.

The company said it intends to use proceeds from the add-on to acquire target assets and for general corporate purposes.

The preferreds are listed on the New York Stock Exchange under the ticker symbol “KREFPrA.” The last reported sale price on Jan. 5 was $25.30 per share, according to a 424B5 filing with the SEC.

KKR Real Estate is a New York-based real estate finance company.

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