New Issue: KKR Group details $500 million 4.625% subordinated notes due 2061

New York, March 25 – KKR Group Finance Co. IX LLC detailed its upsized offering of $500 million 4.625% $25-par subordinated notes due April 1, 2061 (BBB+/BBB+) in an FWP filing with the Securities and Exchange Commission. Details included the settlement date, guarantors, co-managers and the call price.

The notes are guaranteed by KKR & Co. Inc. and KKR Group Partnership LP.

The offering was upsized from $200 million with the coupon coming lower than talk, which had it in the 4.875% area.

The notes will be callable in whole after five years at par plus interest and may be callable beforehand upon a tax event or rating agency event, according to a 424B5 filing with the SEC.

Interest will be payable quarterly. The issuer may defer interest payments during one or more deferral periods for up to five consecutive years.

Wells Fargo Securities LLC, BofA Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, UBS Securities LLC and KKR Capital Markets LLC are the bookrunners.

The proceeds, along with cash on hand, will be used to redeem one or more of the series of KKR & Co. Inc.’s outstanding series A preferred stock and series B preferred stock.

Any remaining proceeds will be used for general corporate purposes.

KKR is a New York-based global investment firm.

Issuer:	KKR Group Finance Co. IX LLC
Guarantors:	KKR & Co. Inc. and KKR Group Partnership LP
Issue:	Subordinated notes
Amount:	$500 million
Maturity:	April 1, 2061
Bookrunners:	Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, UBS Securities LLC and KKR Capital Markets LLC
Co-managers:	Academy Securities, Inc., Barclays, Blaylock Van, LLC, BMO Capital Markets Corp., Cabrera Capital Markets LLC, CastleOak Securities, LP, Citigroup Global Markets Inc., Commerz Markets LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., Loop Capital Markets LLC, Mizuho Securities USA LLC, Nomura Securities International, Inc., Samuel A. Ramirez & Co., Inc., RBC Capital Markets, LLC, Roberts & Ryan Investments, Inc., R. Seelaus & Co., LLC, Scotia Capital (USA) Inc., Siebert Williams Shank & Co., LLC, SMBC Nikko Securities America, Inc., Tigress Financial Partners LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc.
Coupon:	4.625%
Price:	Par of $25
Yield:	4.625%
Call features:	After April 1, 2026 at par; callable beforehand upon a tax event or rating agency event
Pricing date:	March 24
Settlement date:	March 31
Ratings:	S&P: BBB+
	Fitch: BBB+
Distribution:	SEC registered
Cusip:	48253M104
Talk:	4.875% area

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