By Andrea Heisinger
New York, March 13 - KKR Financial Holdings LLC sold $100 million of 7.5% 30-year senior notes on Tuesday at par of $25, an informed source said.
There is a $15 million over-allotment option to be used within 30 days.
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC were the bookrunners.
The co-managers were KKR Capital Markets LLC and RBC Capital Markets LLC.
The notes (/BBB-/BBB) are callable on or after March 20, 2017 at par and feature a change-of-control put at 101.
Interest will be paid quarterly starting on June 20.
Proceeds are being used for general corporate purposes.
The specialty finance company is based in San Francisco.
| Issuer: | KKR Financial Holdings LLC
|
| Issue: | Senior notes
|
| Amount: | $100 million
|
| Greenshoe: | $15 million
|
| Maturity: | March 20, 2042
|
| Bookrunners: | Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, Wells Fargo Securities LLC
|
| Co-managers: | KKR Capital Markets LLC, RBC Capital Markets LLC
|
| Coupon: | 7.5%, paid quarterly starting June 20
|
| Price: | Par of $25
|
| Yield: | 7.5%
|
| Call option: | On or after March 20, 2017 at par
|
| Change-of-control put: | 101
|
| Trade date: | March 13
|
| Settlement date: | March 20
|
| Ratings: | Standard & Poor's: BBB-
|
| Fitch: BBB
|
| Price talk: | 7.5% area
|
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