What are the terms of the Senior Notes being issued?

KKR Group Finance Co. VIII LLC is issuing $750,000,000 aggregate principal amount of 3.500% Senior Notes due 2050. These notes are guaranteed by KKR & Co. Inc. and KKR Group Partnership L.P.

What happens to the proceeds if they are not immediately used for the acquisition?

Pending their application for the acquisition or general corporate purposes, the net proceeds may be temporarily invested in investment-grade securities or similar instruments.

Are these notes being offered to the general public in the US?

The notes were offered pursuant to Rule 144A and Regulation S, meaning they have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States unless registered or an exemption applies. This typically indicates a private placement to institutional investors.

KKR & Co. Inc. 8-K: Regulation FD

Q: What is the main purpose of this $750 million debt issuance?

The primary purpose of the $750 million Senior Notes offering is to finance KKR's previously announced acquisition of Global Atlantic Financial Group Limited, including related costs and expenses.

Summary

KKR & Co. Inc. announced on August 18, 2020, the pricing of a $750 million offering of 3.500% Senior Notes due 2050. These notes are guaranteed by KKR & Co. Inc. and KKR Group Partnership L.P. The primary purpose of this financing is to fund KKR's previously announced acquisition of Global Atlantic Financial Group Limited, along with associated costs and expenses. Any remaining proceeds will be used for general corporate purposes, with temporary investments in investment-grade securities pending their ultimate use.

Key Highlights

1KKR priced a $750 million offering of 3.500% Senior Notes due 2050.
2The notes are guaranteed by KKR & Co. Inc. and KKR Group Partnership L.P.
3Proceeds will be used to fund the acquisition of Global Atlantic Financial Group Limited.
4Financing will also cover acquisition-related costs and expenses.
5Remaining proceeds, if any, will be allocated for general corporate purposes.
6Notes were offered under Rule 144A and Regulation S, indicating they are not registered with the SEC.
7Pending deployment, proceeds may be temporarily invested in investment-grade securities.

KKR & Co. Inc. 8-K Report, Regulation FD Disclosure (Aug 18, 2020)

Summary

Key Highlights

Frequently Asked Questions