Chicago, Dec. 17 – KKR Financial Advisors II LLC refinanced and extended for $457.5 million the collateralized loan obligation issued by KKR CLO 30 Ltd./KKR CLO 30 LLC, according to a pre-sale report.
The notes will mature on Oct. 17, 2031.
The refinanced CLO consists of $274.5 million of class A-1-R senior secured floating-rate notes at Libor plus 102 basis points, $18 million of class A-J-R senior secured floating-rate notes at Libor plus 140 bps, $49.5 million of class B-R senior secured floating-rate notes at Libor plus 160 bps, $27 million of class C-R senior secured floating-rate notes at Libor plus 200 bps, $27 million of class D-R senior secured deferrable floating-rate notes at Libor plus 300 bps, $18 million of class E-R senior secured deferrable floating-rate notes at Libor plus 640 bps, and $43.5 million of subordinated notes.
The original CLO sold $267.75 million of class A-1 floating-rate notes at Libor plus 150 bps, $24.75 million of class A-2 floating-rate notes at Libor plus 175 bps, $43.88 million of class B-1 floating-rate notes at Libor plus 200 bps and $5.63 million of 2.43% class B-2 fixed-rate notes.
The CLO also sold $22.5 million of class C floating-rate notes at Libor plus 260 bps, $27 million of class D floating-rate notes at Libor plus 380 bps, $15.75 million of class E floating-rate notes at Libor plus 737 bps and $43.5 million of subordinated notes.
KKR Financial Advisors II LLC will manage the collateral through the end of the reinvestment period on Oct. 17, 2023.
Collateral chiefly consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 17, 2022.
Credit Suisse Securities (USA) LLC was the placement agent.
The investment firm is a subsidiary of San Francisco-based KKR Credit Advisors (US) LLC.
| Issuer: | KKR CLO 30 Ltd./KKR CLO 30 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $457.5 million
|
| Maturity: | Oct. 17, 2031
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | KKR Financial Advisors II LLC
|
| Call feature: | Oct. 17, 2022
|
| Pricing date:
|
| Settlement date: | Nov. 5
|
|
|
| Class A-1-R notes
|
| Amount: | $274.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 102 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-J-R notes
|
| Amount: | $18 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Rating: | S&P: NR
|
|
|
| Class B-R notes
|
| Amount: | $49.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $27 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $27 million
|
| Securities: | Senior secured Deferrable floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $18 million
|
| Securities: | Senior secured Deferrable floating-rate notes
|
| Coupon: | Libor plus 640 bps
|
| Rating: | S&P: NR
|
|
|
| Subordinated notes
|
| Amount: | $43.5 million
|
| Securities: | Subordinated notes
|
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