KKR Financial CLO 2005-1 to redeem six classes of notes on July 27

By Wendy Van Sickle

Columbus, Ohio July 15 – KKR Financial CLO 2005-1, Ltd. and KKR Financial CLO 2005-1 Corp. plan to redeem six series of notes, according to a notice.

The redemptions are at the request of at least two-thirds of the holders of the subordinated notes.

The notes will be redeemed on July 27. The following amounts show par plus accrued interest to the redemption date:

• $6,365,984.07 of class B notes;

• $64,174,234.67 of class C notes;

• $52,305,871.22 of class D notes;

• $15,219,044.58 of class E notes; and

• $5,110,931.53 of class F notes.

The trustee will send notice to the subordinated noteholders regarding their final payment at a later date.

If sale proceeds exceed the amount necessary to redeem the rated notes, the surplus and any funds in the payment account will be paid to the holders of the subordinated notes on the redemption date.

Bank of New York Mellon Trust Co., NA is the trustee.

KKR Financial Holdings is a New York-based specialty finance company.

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