KKR prices $609.7 million CLO; New Year primary market quiet; secondary trading climbs

By Cristal Cody

Tupelo, Miss., Jan. 4 – KKR Financial Advisors II, LLC priced $609.7 million of notes in a new CLO offering in December.

The CLO primary market remains quiet so far in 2018.

Secondary trading action is revving up. On Wednesday, $200.26 million of investment-grade CBO/CDO/CLO issues and $208.8 million of non-high-grade securities were traded, according to Trace data.

Tuesday’s session included $59.97 million of investment-grade CBO/CDO/CLO issues and $47.77 million of non-high-grade securities traded.

KKR prints at 113 bps spread

KKR Financial Advisors II priced $609.7 million of notes due 2030 in the KKR Financial CLO 20 Ltd./KKR Financial CLO 20 LLC transaction, according to market sources.

The CLO sold $384 million of class A senior secured floating-rate notes at Libor plus 113 basis points in the senior tranche.

Natixis Securities Americas LLC was the placement agent.

KKR is an investment firm and subsidiary of San Francisco-based KKR Credit Advisors (US) LLC.

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