KKR Prices $550,000,000 of 6.875% Subordinated Notes due 2065

Business Wire

20-05-2025

NEW YORK--(BUSINESS WIRE)--KKR & Co. Inc. ('KKR') (NYSE: KKR) today announced that it has priced its previously announced offering of $550,000,000 aggregate principal amount of its 6.875% Subordinated Notes due 2065 (the 'notes'). The notes will be subordinated obligations of KKR and will be fully and unconditionally guaranteed by KKR Group Partnership L.P. The underwriters have a 30-day option to purchase up to an additional $82,500,000 aggregate principal amount of notes, solely to cover over-allotments, if any.
The offering is expected to close on May 28, 2025, subject to customary closing conditions.
KKR intends to use the net proceeds from the sale of the notes for general corporate purposes.
Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, UBS Investment Bank and KKR Capital Markets LLC are acting as joint book-running managers for the offering.
The offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the 'SEC'). The offering is being made by means of a prospectus and related preliminary prospectus supplement only. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC's website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: Wells Fargo Securities, LLC toll-free at 1-800-645-3751 or emailing [e-mail]; BofA Securities, Inc. toll-free at 1-800-294-1322 or emailing [e-mail]; J.P. Morgan Securities LLC at 1-212-834-4533; Morgan Stanley & Co. LLC toll-free at 1-866-718-1649 or emailing [e-mail]; UBS Investment Bank toll-free at 1-833-481-0269; or KKR Capital Markets LLC at 1-212-230-9433.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale of the notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, pertaining to KKR. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These forward-looking statements can be identified by the use of words such as 'outlook,' 'believe,' 'think,' 'expect,' 'potential,' 'continue,' 'may,' 'should,' 'seek,' 'approximately,' 'predict,' 'intend,' 'will,' 'plan,' 'estimate,' 'anticipate,' visibility,' 'positioned,' 'path to,' 'conviction,' the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR's beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. We believe these factors include those in the sections entitled 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. These factors should be read in conjunction with the other cautionary statements that are included in our periodic filings. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this press release. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this press release except as required by law.