KKR Financial greenshoe exercised, lifts preferreds by $48.75 million

By Tali David

Minneapolis, Jan. 17 - KKR Financial Holdings LLC said the over-allotment option on its 7.375% series A LLC perpetual preferred shares was exercised in full, increasing the offering by $48.75 million, or 1.95 million shares, according to an 8-K filed with the Securities and Exchange Commission.

The company sold $325 million, or 13 million shares, of the preferreds on Jan. 10.

Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.

The San Francisco-based specialty finance company will use proceeds from the sale for general corporate purposes, including payments made in connection with the repurchase, redemption or conversion of senior debt.

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