By Cristal Cody
Tupelo, Miss., June 17 – KKR & Co. Inc. subsidiary KKR Group Finance Co. VI LLC priced $500 million of 3.75% 10-year senior notes (A/A) on Monday on the tight side of guidance at a spread of 170 basis points over Treasuries, according to a market source and a news release.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC and KKR were the bookrunners.
The notes will be guaranteed by KKR & Co. and subsidiaries KKR Management Holdings LP, KKR Fund Holdings LP and KKR International Holdings LP.
Proceeds will be used to redeem the company’s $500 million of 6.375% senior notes due in 2020.
KKR is a New York-based global investment firm.
| Issuer: | KKR Group Finance Co. VI LLC
|
| Guarantor: | KKR & Co. Inc. and subsidiaries KKR Management Holdings LP, KKR Fund Holdings LP and KKR International Holdings LP
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | July 1, 2029
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC and KKR
|
| Coupon: | 3.75%
|
| Spread: | Treasuries plus 170 bps
|
| Trade date: | June 17
|
| Ratings: | S&P: A
|
| Fitch: A
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 175 bps area, plus or minus 5 bps; initial talk at Treasuries plus 190 bps area
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