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KKR Financial Holdings LLC Prices $100 Million Senior Notes Offering

SAN FRANCISCO, March 13, 2012 /PRNewswire/ -- KKR Financial Holdings LLC (NYSE: KFN) (the "Company") today announced pricing of its public offering of Senior Notes due 2042 (the "Notes").  The offering is expected to close on March 20, 2012, subject to customary closing conditions.  The Notes are being offered in an underwritten registered public offering. The Company intends to apply to list the Notes on the New York Stock Exchange under the symbol "KFI." If the application is approved, the Company expects trading in the Notes on the New York Stock Exchange to begin within 30 days after the Notes are first issued.

Total aggregate gross proceeds from the offering are $100 million, exclusive of any proceeds attributable to the underwriters' possible exercise of their over-allotment option. In connection with this offering, the Company has granted the underwriters an over-allotment option to purchase up to $15 million aggregate principal amount of additional Notes.

The net proceeds to the Company from the offering of the Notes will be approximately $96.4 million, after deducting the underwriting discount and estimated offering expenses payable by the Company, exclusive of any proceeds attributable to the underwriters' possible exercise of their over-allotment option.  The Company intends to use the net proceeds for general corporate purposes.

Interest on the Notes will be paid quarterly on March 20, June 20, September 20 and December 20 of each year, beginning June 20, 2012, at a rate of 7.500 percent per year and the Notes will mature on March 20, 2042 unless earlier repurchased or redeemed. 

Citigroup Global Markets Inc., Morgan Stanley& Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.  KKR Capital Markets LLC and RBC Capital Markets, LLC are acting as co-managers for the offering.

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