Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for KKR Financial Holdings LLC > News item |
KKR Financial sells $5.1 billion of its residential mortgage loans
By Lisa Kerner
Charlotte, N.C., Aug. 15 - KKR Financial Holdings LLC sold some $5.1 billion of residential mortgage loans as part of a plan to divest its residential real estate assets.
The company had invested in residential real estate as a real estate investment trust but has operated as a limited liability company since May.
KKR owns approximately $5.8 billion of mortgage loans primarily in the form of residential mortgage-backed securities.
Due to "unprecedented disruption" in the residential mortgage and global commercial paper markets, the company is negotiating with investors in its asset-backed secured liquidity note facilities regarding various alternatives to protect it from funding problems.
In addition, the San Francisco specialty finance company will pay a distribution of $0.56 per common share at the end of the month to shareholders of record as of Aug. 16.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.