By Cristal Cody
Tupelo, Miss., Sept. 15 – KKR Financial Advisors II, LLC priced $450.76 million of notes due Oct. 17, 2031 in a new broadly syndicated collateralized loan obligation transaction, according to market sources.
KKR CLO 30 Ltd./KKR CLO 30 LLC sold $267.75 million of class A-1 floating-rate notes at Libor plus 150 basis points, $24.75 million of class A-2 floating-rate notes at Libor plus 175 bps, $43.88 million of class B-1 floating-rate notes at Libor plus 200 bps and $5.63 million of 2.43% class B-2 fixed-rate notes.
The CLO also sold $22.5 million of class C floating-rate notes at Libor plus 260 bps, $27 million of class D floating-rate notes at Libor plus 380 bps, $15.75 million of class E floating-rate notes at Libor plus 737 bps and $43.5 million of subordinated notes.
Credit Suisse Securities (USA) LLC was the placement agent.
The CLO has a one-year non-call period and a three-year reinvestment period.
The offering is collateralized primarily by broadly syndicated first-lien senior secured corporate loans.
The investment firm is a subsidiary of San Francisco-based KKR Credit Advisors (US) LLC.
| Issuer: | KKR CLO 30 Ltd./KKR CLO 30 LLC
|
| Amount: | $450.76 million
|
| Maturity: | Oct. 17, 2031
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | KKR Financial Advisors II, LLC
|
| Call feature: | One year
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 24
|
|
|
| Class A-1 notes
|
| Amount: | $267.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Ratings: | S&P: AAA
|
|
|
| Class A-2 notes
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| Amount: | $24.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Ratings: | S&P: AAA
|
|
|
| Class B-1 notes
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| Amount: | $43.88 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Ratings: | S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | $5.63 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.43%
|
| Ratings: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $22.5 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Ratings: | S&P: A
|
|
|
| Class D notes
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| Amount: | $27 million
|
| Securities: | Deferrable floating-rate notes
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| Coupon: | Libor plus 380 bps
|
| Ratings: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $15.75 million
|
| Securities: | Deferrable floating-rate notes
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| Coupon: | Libor plus 737 bps
|
| Ratings: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $43.5 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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