Chicago, Dec. 29 – KKR Financial Advisors II, LLC sold $435 million in a collateralized loan obligation being issued by KKR Static CLO 2 Ltd., according to multiple press releases.
The notes will mature on Oct. 20, 2031.
The CLO consists of $270 million of class A-1 senior secured floating-rate notes at SOFR plus 222 basis points, $31.5 million of class A-2 senior secured floating-rate notes at SOFR plus 300 bps, $40.5 million of class B senior secured floating-rate notes at SOFR plus 350 bps, $34.6 million of class C senior secured deferrable floating-rate notes at SOFR plus 425 bps, $23.9 million of class D senior secured deferrable floating-rate notes at SOFR plus 553 bps, $13.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 725 bps and $21 million of subordinated notes.
KKR Financial Advisors II, LLC will manage the collateral.
There is no reinvestment period. The CLO is static.
Collateral for the notes consists of first-lien senior secured leveraged loans.
KKR Financial is a subsidiary of San Francisco-based KKR Credit Advisors (US) LLC.
Issuer: | KKR Static CLO 2 Ltd.
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $435 million
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Maturity: | Oct. 20, 2031
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Structure: | Cash flow CLO
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Manager: | KKR Financial Advisors II, LLC
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Settlement date: | Nov. 10
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Class A-1 notes
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Amount: | $270 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 222 bps
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Rating: | Moody's: Aaa
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Class A-2 notes
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Amount: | $31.5 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 300 bps
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Rating: | Fitch: AAA
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Class B notes
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Amount: | $40.5 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 350 bps
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Rating: | Fitch: AA+
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Class C notes
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Amount: | $34.6 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 425 bps
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Rating: | Fitch: A
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Class D notes
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Amount: | $23.9 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 553 bps
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Rating: | Fitch: BBB-
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Class E notes
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Amount: | $13.5 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 725 bps
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Rating: | Fitch: BB-
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Subordinated notes
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Amount: | $21 million
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Securities: | Subordinated notes
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