By Aleesia Forni
Virginia Beach, May 21 - KKR Group Finance Co. III LLC sold $500 million of 5.125% 30-year senior notes (/A/A) with a spread of 180 basis points over Treasuries, according to a market source and an 8-K filing with the Securities and Exchange Commission.
Pricing was at the tight end of the Treasuries plus 180 bps to 185 bps area talk.
The notes priced at 98.612 to yield 5.217%.
The deal was upsized from $300 million.
Proceeds from the sale will be used for general corporate purposes.
Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC were the joint bookrunners for the Rule 144A and Regulation S deal.
There is a guarantee by New York City-based parent company KKR & Co. LP, along with subsidiaries KKR Management Holdings LP and KKR Fund Holdings LP.
| Issuer: | KKR Group Finance Co. III LLC
|
| Guarantors: | KKR & Co. LP, KKR Management Holdings LP, KKR Fund Holdings LP
|
| Amount: | $500 million, upsized from $300 million
|
| Description: | Senior notes
|
| Maturity: | June 1, 2044
|
| Bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. LLC
|
| Coupon: | 5.125%
|
| Price: | 98.612
|
| Yield: | 5.217%
|
| Spread: | Treasuries plus 180 bps
|
| Trade date: | May 21
|
| Settlement date: | May 28
|
| Ratings: | Standard & Poor's: A
|
| Fitch: A
|
| Price talk: | Treasuries plus 180 bps to 185 bps
|
| Distribution: | Rule 144A, Regulation S
|
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