By Cristal Cody
Chicago, Dec. 2 – KKR Group Finance Co. X LLC priced an upsized $750 million offering of 3.25% 30-year senior notes (A/A) on Wednesday, according to details from a market source.
The notes priced with a spread over Treasuries of 147 basis points. Pricing came lower than talk in the 175 bps area.
The deal had been originally sized at $500 million.
Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, KKR Capital Markets LLC and Morgan Stanley & Co. LLC are listed as bookrunners.
Proceeds are expected to be used for general corporate purposes, according to Fitch Ratings.
KKR is a New York-based global investment firm.
| Issuer: | KKR Group Finance Co. X LLC
|
| Amount: | $750 million
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| Issue: | Senior notes
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| Maturity: | Dec. 15, 2051
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| Bookrunners: | Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, KKR Capital Markets LLC and Morgan Stanley & Co. LLC
|
| Coupon: | 3.25%
|
| Spread: | Treasuries plus 147 bps
|
| Trade date: | Dec. 1
|
| Ratings: | S&P: A
|
| Fitch: A
|
| Price talk: | Treasuries plus 175 bps area
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