KKR Financial issues shares for $3 million of 7% convertible notes

By Jennifer Chiou

New York, June 12 - KKR Financial Holdings LLC entered into an exchange agreement to issue 1,176,000 shares in exchange for $3 million of its 7% convertible senior notes due 2012, according to an 8-K filing with the Securities and Exchange Commission.

KKR said it negotiated individually for the transaction on June 8, adding that it also will pay accrued interest through that date.

Wells Fargo Bank, NA is the trustee.

San Francisco-based KKR Financial Holdings is a specialty finance company.

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