Chicago, Dec. 15 – KKR Financial Advisors II LLC sold $506.3 million in a collateralized loan obligation being issued by KKR CLO 36 Ltd./KKR CLO 36 LLC, according to a pre-sale report.
The notes will mature on Oct. 15, 2034.
The CLO consists of $315 million of class A senior secured floating-rate notes at Libor plus 118 basis points, $65 million of class B senior secured floating-rate notes at Libor plus 170 bps, $30 million of class C senior secured deferrable floating-rate notes at Libor plus 215 bps, $30 million of class D senior secured deferrable floating-rate notes at Libor plus 340 bps, $20 million of class E senior secured deferrable floating-rate notes at Libor plus 728 bps and $46.3 million of subordinated notes.
KKR Financial Advisors II LLC. will manage the collateral through the end of the reinvestment period on Oct. 15, 2026.
The collateral pool consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 15, 2023.
J.P. Morgan Securities LLC was the placement agent.
KKR Financial is a subsidiary of San Francisco-based KKR Credit Advisors (US) LLC.
| Issuer: | KKR CLO 36 Ltd./KKR CLO 36 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $506.3 million
|
| Maturity: | Oct. 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | KKR Financial Advisors II LLC
|
| Call feature: | Oct. 15, 2023
|
| Settlement date: | Nov. 2
|
|
|
| Class A notes
|
| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 118 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $65 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 728 bps
|
| Rating: | S&P: NR
|
|
|
| Subordinated notes
|
| Amount: | $46.3 million
|
| Securities: | Subordinated notes
|
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