Chicago, Sept. 25 – KKR Financial Advisors II, LLC priced $450 million of notes due 2032 in the KKR CLO 27 Ltd. transaction, according to market sources on Monday.
The CLO sold $288 million of class A floating-rate notes at Libor plus 135 basis points; $41.75 million of class B-1 exchangeable floating-rate notes at Libor plus 190 bps and $10 million of 3.477% class B-2 fixed-rate notes.
KKR CLO 27 also priced $32.65 million of class C deferrable floating-rate notes at Libor plus 275 bps, $20.25 million of class D deferrable floating-rate notes at Libor plus 395 bps, $19.15 million of class E deferrable floating-rate notes at Libor plus 690 bps and $37.4 million of subordinated notes.
The B-1 notes are exchangeable into Mascot notes.
Barclays was the placement agent.
The CLO has a two-year non-call period and a five-year reinvestment period.
The offering is collateralized primarily by broadly syndicated first-lien senior secured corporate loans.
The investment firm is a subsidiary of San Francisco-based KKR Credit Advisors (US) LLC.
| Issuer: | KKR CLO 27 Ltd.
|
| Amount: | $450 million
|
| Maturity: | Oct. 15, 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | KKR Financial Advisors II, LLC
|
| Call feature: | Two years
|
| Pricing date: | Sept. 25
|
| Settlement date: | Oct. 15
|
|
|
| Class A notes
|
| Amount: | $288 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 135 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $41.75 million
|
| Securities: | Exchangeable floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.477%
|
|
|
| Class C notes
|
| Amount: | $32.65 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 275 bps
|
|
|
| Class D notes
|
| Amount: | $20.25 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 395 bps
|
|
|
| Class E notes
|
| Amount: | $19.15 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 690 bps
|
|
|
| Equity
|
| Amount: | $37.4 million
|
| Securities: | Subordinated notes
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
