Sept. 30, 2013
/PRNewswire/ -- KKR Financial Holdings LLC (NYSE:KFN) (the "Company") today announced that it has added
to the total facility size of KKR Financial CLO 2011-1, Ltd. ("CLO 2011-1"). The increase results from an amendment to the transaction whereby CLO 2011-1 may now borrow up to an incremental
to purchase senior secured corporate loans. In connection with the upsize, the Company increased its residual interest in the transaction through the acquisition of an additional
of subordinated notes issued by CLO 2011-1.
The cost of the financing remains three-month LIBOR plus 1.35%.
CLO 2011-1 initially closed on
March 31, 2011
as a privately negotiated financing transaction between the Company and a third-party senior lender. The transaction was previously upsized on
July 6, 2011
"This transaction represents the continuation of a creative and successful partnership," said
Craig J. Farr
, the Company's Chief Executive Officer. "It provides us with a highly attractive source of financing for loan collateral in an opportunistic structure that has generated approximately 15% annualized cash returns for KFN's shareholders over the last two years."
About KKR Financial Holdings LLC
KKR Financial Holdings LLC is a specialty finance company with expertise in a range of asset classes. KFN's core business strategy is to leverage the proprietary resources of its manager with the objective of generating both current income and capital appreciation. KFN executes its core business strategy through its majority-owned subsidiaries. KFN is externally managed by KKR Financial Advisors LLC, a wholly-owned subsidiary of KKR Asset Management LLC, which is a wholly-owned subsidiary of Kohlberg Kravis Roberts & Co. L.P. Additional information regarding KFN is available at
Investor Relations Contact:
Kohlberg Kravis Roberts & Co.Tel: +1 (415) 315-6597
Kristi HullerKohlberg Kravis Roberts & Co.Tel: +1 (212) 750-8300
SOURCE KKR Financial Holdings LLC