By Cristal Cody
Tupelo, Miss., Aug. 18 – KKR & Co. Inc. subsidiary KKR Group Finance Co. VIII LLC priced an upsized $750 million of 3.5% 30-year senior notes (A/A) on Tuesday at a spread of 215 basis points over Treasuries, according to a market source and a news release.
Initial price talk was at the Treasuries plus 262.5 bps area.
The deal was upsized from $500 million.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, KKR and Mizuho Securities USA Inc. were the bookrunners of the Rule 144A and Regulation S offering.
The notes will be guaranteed by KKR & Co. Inc. and KKR Group Partnership LP.
KKR held fixed income investor calls on Monday.
Proceeds will be used to help finance KKR’s acquisition of Global Atlantic Financial Group Ltd. and for general corporate purposes.
KKR is a New York-based global investment firm.
| Issuer: | KKR Group Finance Co. VIII LLC
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| Guarantors: | KKR & Co. Inc. and KKR Group Partnership LP
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| Amount: | $750 million
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| Description: | Senior notes
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| Maturity: | Aug. 25, 2050
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| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC, KKR and Mizuho Securities USA Inc.
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| Coupon: | 3.5%
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| Spread: | Treasuries plus 215 bps
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| Trade date: | Aug. 18
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| Ratings: | S&P: A
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| Fitch: A
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| Distribution: | Rule 144A and Regulation S
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| Marketing: | Fixed income investor calls
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| Price guidance: | Treasuries plus 262.5 bps area
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