KKR Real Estate to launch $50 million add-on, repricing on Tuesday

By Sara Rosenberg

New York, Nov. 1 – KKR Real Estate Finance Trust Inc. (KREF Holdings X LLC) will hold a lender call at 11 a.m. ET on Tuesday to launch a $50 million add-on term loan B and a repricing of its existing $298 million term loan B, according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Price talk on the term loan debt is Libor plus 350 basis points to 375 bps with a 0.5% Libor floor and an original issue discount of 99.75, the source said.

The term loan debt has 101 soft call protection for six months.

Commitments are due at noon ET on Friday, the source added.

Proceeds from the add-on term loan will be used for general corporate purposes, and the repricing will take the existing term loan down from Libor plus 475 bps with a 1% Libor floor.

KKR Real Estate is a New York-based real estate finance company.

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