Chicago, June 8 – KKR Financial Advisors II LLC sold $406.06 million of notes in a new collateralized loan obligation issued by KKR CLO 33 Ltd./KKR CLO 33 LLC, according to a pre-sale report.
The notes, due July 20, 2034, are the $240 million of class A senior secured floating-rate notes at Libor plus 117 basis points, $64 million of class B senior secured floating-rate notes at Libor plus 175 bps, $24 million of class C senior secured deferrable floating-rate notes at Libor plus 200 bps, $24 million of class D senior secured deferrable floating-rate notes at Libor plus 310 bps, $15 million of class E senior secured deferrable floating-rate notes at Libor plus 661 bps and $39.05 million of subordinated notes.
The portfolio of senior secured loans, cash and eligible investments will be managed by KKR Financial for the five-year reinvestment period which ends July 20, 2026.
Most borrowers in the portfolio must be based in the United States or Canada.
GreensLedge Capital Markets LLC is the placement agent.
The notes have two years of call protection.
KKR Financial is a subsidiary of San Francisco-based KKR Credit Advisors (US) LLC.
| Issuers: | KKR CLO 33 Ltd./KKR CLO 33 LLC
|
| Issue: | Floating-rate and subordinated notes
|
| Amount: | $406.06 million
|
| Maturity: | July 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | GreensLedge Capital Markets LLC
|
| Manager: | KKR Financial Advisors II LLC
|
| Call feature: | July 3, 2023
|
| Settlement date: | June 3
|
|
|
| Class A notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 117 bps
|
| Rating: | Moody's: AAA
|
|
|
| Class B notes
|
| Amount: | $64 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Rating: | Moody's: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | Moody's: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 310 bps
|
| Rating: | Moody's: BBB-
|
|
|
| Class E notes
|
| Amount: | $15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 661 bps
|
| Rating: | Moody's: BB-
|
|
|
| subordinated notes
|
| Amount: | $39.05 million
|
| Securities: | Subordinated notes
|
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