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KKR Financial buys back $95.2 million in 7% convertible senior notes
By Devika Patel
Knoxville, Tenn., April 29 - KKR Financial Holdings LLC repurchased $95.2 million of its $275.8 million in outstanding 7% convertible senior notes in the quarter ended March 31, according to a press release.
As of March 31, there is $180.6 million of the convertibles remaining outstanding.
The repurchases resulted in a $1.3 million gain.
The company said it also repurchased $10.3 million of mezzanine notes issued by CLO 2007-A for $5.5 million and $72.7 million of mezzanine and subordinate notes issued by CLO 2007-1 for $38.8 million, resulting in $38.7 million gain.
KKR also paid down $25 million of its senior secured credit facility due 2011, reducing the amount outstanding to $150 million from $175 million.
San Francisco-based KKR Financial is a real estate investment trust and specialty finance company.
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