Summary
KKR & Co. Inc. (KKR) announced the pricing of an additional $250 million aggregate principal amount of its 3.750% Senior Notes due 2029 through its indirect subsidiary, KKR Group Finance Co. VI LLC. These notes are being issued under the same indenture as a previous $500 million issuance in July 2019, and they carry the same interest rate and maturity date. The new notes will be fully and unconditionally guaranteed by KKR & Co. Inc. and KKR Group Partnership L.P., providing investors with a direct credit link to the parent entities. The company intends to use the net proceeds from this offering for general corporate purposes. The offering was conducted under Rule 144A and Regulation S, indicating that the notes were offered to qualified institutional buyers and non-U.S. persons, and have not been registered under the Securities Act of 1933. This move suggests KKR is accessing capital markets to fund its ongoing operations and potential future investments.
Key Highlights
- 1KKR priced an additional $250 million of 3.750% Senior Notes due 2029.
- 2The new notes are fungible with the existing $500 million of 3.750% Senior Notes due 2029 issued in July 2019.
- 3The notes are guaranteed by KKR & Co. Inc. and KKR Group Partnership L.P., enhancing their creditworthiness.
- 4Proceeds from the offering will be used for general corporate purposes.
- 5The offering was made pursuant to Rule 144A and Regulation S, targeting institutional and non-U.S. investors.
- 6The issuance indicates KKR's continued access to debt capital markets.