Chicago, March 31 – KKR Financial Advisors II, LLC sold $509 million in a collateralized loan obligation being issued by KKR CLO 41 Ltd., according to a new issue report and a press release.
The notes will mature on March 15, 2035.
The CLO consists of $250 million of class A-1 senior secured floating-rate notes at SOFR plus 133 basis points, $50 million of class A-1L senior secured floating-rate loans at SOFR plus 133 bps, $20 million of class A-2 3.% senior secured fixed-rate notes, $60 million of class B senior secured deferrable floating-rate notes at SOFR plus 190 bps, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 225 bps, $30 million of class D senior secured deferrable floating-rate notes at SOFR plus 325 bps, $20 million of class E senior secured deferrable floating-rate notes at SOFR plus 670 bps and $49 million of subordinated notes.
KKR Financial Advisors II, LLC will manage the collateral through the end of the five-year reinvestment period.
Collateral for the notes consists of first-lien securities leveraged loans.
Credit Suisse Securities (USA) LLC was the placement agent.
KKR Financial is a subsidiary of San Francisco-based KKR Credit Advisors (US) LLC.
| Issuer: | KKR CLO 41 Ltd.
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | $509 million
|
| Maturity: | March 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | KKR Financial Advisors II, LLC
|
| Settlement date: | March 25
|
|
|
| Class A-1 notes
|
| Amount: | $250 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 133 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1L loans
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 133 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
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| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 325 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 670 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $49 million
|
| Securities: | Subordinated notes
|
|
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