This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

KKR Financial Holdings LLC Announces Closing Of KKR Financial CLO 2013-2, Ltd.





SAN FRANCISCO, Jan. 23, 2014 /PRNewswire/ -- KKR Financial Holdings LLC (NYSE:KFN) (the "Company") today announced the closing of KKR Financial CLO 2013-2, Ltd. ("CLO 2013-2" or the "CLO"), a $384 million collateralized loan obligation transaction.  GreensLedge Capital Markets LLC acted as arranger and placement agent and KKR Capital Markets LLC acted as placement agent.

Proceeds will be used to finance a portfolio of primarily senior secured leveraged loans.  The CLO has a four-year reinvestment period and a two-year non-call period, with a final maturity of January 23, 2026.  KKR Financial Advisors II, LLC, a wholly-owned subsidiary of KKR Asset Management LLC, will serve as collateral manager.  KKR Asset Management LLC oversaw approximately $21 billion of predominantly credit investments as of September 30, 2013.

The Company will hold the entirety of the CLO's approximately $45 million of subordinated notes.  Apart from these subordinated notes held by the Company, the notes issued by CLO 2013-2 are non-recourse to the Company.

Craig J. Farr, CEO of KFN, said:  "This transaction reflects our goal of being a frequent issuer in the CLO market.  We continue to see attractive risk-adjusted cash returns in CLO subordinated notes, which have the added benefit of diversifying KFN's CLO portfolio."

About KKR Financial Holdings LLCKKR 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  http://www.kkr.com.

Investor Relations Contact: Pam Testani TholenKohlberg Kravis Roberts & Co.Tel: +1 (855) 374-5411 (US) / +1 (415) 315-3633 kfn.ir@kkr.com

Media Contact:Kristi HullerKohlberg Kravis Roberts & Co.Tel: +1 (212) 230-9722 kristi.huller@kkr.com



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,039.48 -40.09 -0.23%
S&P 500 1,995.65 -1.09 -0.05%
NASDAQ 4,556.5810 -1.1140 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs