- Free Writing Prospectus - Filing under Securities Act Rules 163/433 (FWP)
14 March 2012 - 7:54AM
Edgar (US Regulatory)
Filed pursuant to Rule 433
Registration No. 333-167479
Supplementing the Preliminary
Prospectus Supplement
dated March 13, 2012
(To Prospectus dated November 7, 2011)
KKR Financial Holdings LLC
Pricing Term Sheet
Date: March 13, 2012
Issuer:
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KKR Financial Holdings LLC
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Security Description:
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7.500% Senior Notes due 2042 (the Notes)
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Principal Amount:
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$100,000,000
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Over-allotment Option:
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$15,000,000
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Trade Date:
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March 13, 2012
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Settlement Date:
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T+5; March 20, 2012
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Maturity Date:
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March 20, 2042
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Interest Payment Dates:
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March 20, June 20, September 20 and December 20 of each year, beginning June 20, 2012
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Coupon (Interest Rate):
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The Notes will bear interest from March 20, 2012 at the rate of 7.500% per year, payable quarterly in arrears.
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Public Offering Price:
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$25 per Note
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Optional Redemption:
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The Issuer may redeem the Notes, in whole or in part, at any time on or after March 20, 2017 at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest to, but excluding, the redemption date.
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Listing:
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The Issuer intends to apply to list the Notes on the New York Stock Exchange and, if the application is approved, expects trading in the Notes to begin within 30 days after the Notes are first issued.
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Use of Proceeds:
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The net proceeds from the sale of the Notes are estimated to be approximately $96,390,825* (or approximately $110,918,325* if the underwriters exercise their overallotment option in full), after deducting the underwriting discount and estimated offering expenses. The Issuer intends to use the net proceeds for general corporate purposes.
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CUSIP/ISIN:
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48248A504 / US48248A5048
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Anticipated Ratings**:
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BBB- (Stable) (S&P) / BBB (Stable) (Fitch)
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Joint Book-Running Managers:
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Citigroup Global Markets Inc.
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Morgan Stanley & Co. LLC
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UBS Securities LLC
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Wells Fargo Securities, LLC
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Co-Managers:
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KKR Capital Markets LLC
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RBC Capital Markets, LLC
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*
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Reflects sales to certain institutions
as described in footnote 2 to the cover page of the Preliminary Prospectus Supplement dated March
13
, 2012.
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**
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Note: An explanation of the significance of ratings may be obtained from the rating agencies. Generally, rating agencies base their ratings on such material and information, and such of their own investigations, studies and assumptions, as they deem appropriate. The rating of the notes should be evaluated independently from similar ratings of other securities. A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency.
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The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Citigroup Global Markets Inc. toll-free at 1-877-858-5407, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, UBS Securities LLC toll-free at 1-877-827-6444, ext. 561 3884 or Wells Fargo Securities, LLC toll-free at 1-800-326-5897.
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