Summary
KKR & Co. L.P. (KKR) filed an 8-K report on March 11, 2015, to disclose the pricing of an additional offering of $500 million aggregate principal amount of its 5.125% Senior Notes due 2044. These notes are issued by KKR Group Finance Co. III LLC, an indirect subsidiary, and are fully and unconditionally guaranteed by KKR & Co. L.P. and other KKR entities. The issuance occurred at a premium to face value, pricing at 101.062% plus accrued interest. Investors should note that these notes are an add-on issuance to an existing series of 5.125% Senior Notes due 2044, meaning they will form a single series and share the same terms. KKR intends to use the net proceeds for general corporate purposes, including funding future acquisitions and investments. The offering was conducted under Rule 144A and Regulation S, indicating a private placement to eligible investors and not a public offering in the United States without registration.
Key Highlights
- 1KKR priced an additional $500 million of 5.125% Senior Notes due 2044.
- 2The notes are issued by indirect subsidiary KKR Group Finance Co. III LLC.
- 3KKR & Co. L.P. and other KKR entities provide full and unconditional guarantees for the notes.
- 4The offering price was 101.062% of face value plus accrued interest, indicating a premium issuance.
- 5Proceeds are intended for general corporate purposes, including acquisitions and investments.
- 6This issuance forms a single series with previously issued 5.125% Senior Notes due 2044.
- 7The notes were offered via Rule 144A and Regulation S, suggesting a private placement to qualified investors.