Chicago, Jan. 18 – KKR Real Estate Finance Trust Inc. sold another $30 million, or 1.2 million shares, of its 6.5% series A cumulative redeemable preferred stock with a $25 liquidation preference, according to a 424B5 filing with the Securities and Exchange Commission.
The additional shares are a reopening of KKR’s previous issuance of $150 million, or 6 million shares, of 6.5% preferred stock on April 16, 2021 and will also be in addition to the first add-on for $110 million, or 4.4 million shares, sold on Jan. 6.
The same Jan. 13 closing date applied to both additional offerings.
Raymond James & Associates, Inc. and KKR Capital Markets LLC are the joint bookrunners.
The company said it intends to use proceeds from the add-on to acquire target assets and for general corporate purposes.
The preferreds are listed on the New York Stock Exchange under the ticker symbol “KREFPrA.” The last reported price on Jan. 10 was $25.17 per share, according to a 424B5 filing with the SEC.
KKR Real Estate is a New York-based real estate finance company.
| Issuer: | KKR Real Estate Finance Trust Inc.
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| Amount: | $30 million add-on, or 1.2 million shares
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| Issue: | Cumulative redeemable preferred stock
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| Maturity: | Perpetual
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| Bookrunners: | Raymond James & Associates Inc. and KKR Capital Markets LLC
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| Dividend: | 6.5%
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| Price: | $25.13, inclusive of preferred dividends from Dec. 13 to Jan. 13
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| Call option: | Starting April 16, 2026 at par
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| Change of control: | At par
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| Trade date: | Jan. 11
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| Settlement date: | Jan. 13
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| Previous issues: | $150 million, or 6 million shares, on April 16, 2021 and $110 million, or 4.4 million shares, on Jan. 6
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| Symbol: | NYSE: KREFPrA
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