KKR gets $750 million 364-day revolver at Libor plus 125-250 bps

By Sarah Lizee

Olympia, Wash., June 27 – KKR & Co. Inc. and some of its subsidiaries, including KKR Capital Markets Holdings LP, entered into a $750 million 364-day revolving credit agreement with Mizuho Bank, Ltd. as administrative agent on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

Interest will be Libor plus 125 basis points and 250 bps, depending on the duration of the loan.

There is a 20 bps facility fee.

The loan expires June 26, 2020 and ranks pari passu with the existing $500 million credit facility provided for KKR's capital markets business.

The prior 364-day revolver with Mizuho expired on Thursday.

A portion of proceeds of the new facility was used to repay outstanding borrowings under the prior agreement.

Borrowings under the new revolver may only be used to facilitate the settlement of debt transactions syndicated by KKR’s capital markets business.

KKR is a New York-based global investment firm.

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