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KKR acquires $31.5 million Sound Point CLO, retains $44.8 million CLO
By Susanna Moon
Chicago, Jan. 31 - KKR Financial Holdings LLC said it acquired $31.5 million par amount of subordinated notes issued by Sound Point CLO IV, Ltd., which closed Dec. 17.
This represents the company's first deployment to a collateralized loan obligation transaction managed by a third party, according to a company press release.
The company also said it retained the entirety of KKR Financial CLO 2013-2, Ltd.'s $44.8 million of subordinated notes. The $384 million KKR CLO 2013-2 priced on Dec. 20 and closed on Jan. 23.
The notes issued by KKR CLO 2013-2 are non-recourse to the company, the release noted.
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