Chicago, Dec. 29 – KKR Financial Advisors II, LLC sold $435 million in a collateralized loan obligation being issued by KKR Static CLO 2 Ltd., according to multiple press releases.
The notes will mature on Oct. 20, 2031.
The CLO consists of $270 million of class A-1 senior secured floating-rate notes at SOFR plus 222 basis points, $31.5 million of class A-2 senior secured floating-rate notes at SOFR plus 300 bps, $40.5 million of class B senior secured floating-rate notes at SOFR plus 350 bps, $34.6 million of class C senior secured deferrable floating-rate notes at SOFR plus 425 bps, $23.9 million of class D senior secured deferrable floating-rate notes at SOFR plus 553 bps, $13.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 725 bps and $21 million of subordinated notes.
KKR Financial Advisors II, LLC will manage the collateral.
There is no reinvestment period. The CLO is static.
Collateral for the notes consists of first-lien senior secured leveraged loans.
KKR Financial is a subsidiary of San Francisco-based KKR Credit Advisors (US) LLC.
| Issuer: | KKR Static CLO 2 Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $435 million
|
| Maturity: | Oct. 20, 2031
|
| Structure: | Cash flow CLO
|
| Manager: | KKR Financial Advisors II, LLC
|
| Settlement date: | Nov. 10
|
|
|
| Class A-1 notes
|
| Amount: | $270 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 222 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $31.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $40.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $34.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $23.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 553 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $13.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 725 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $21 million
|
| Securities: | Subordinated notes
|
|
|
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