NEW YORK, January 06, 2022–(BUSINESS WIRE)–KKR Actual Property Finance Belief Inc. (“KREF”) (NYSE: KREF) in the present day introduced the pricing of a public providing of 4,400,000 further shares of its 6.50% Sequence A Cumulative Redeemable Most well-liked Inventory (the “Most well-liked Inventory”) at a public providing value of $25.00 per share (plus accrued dividends from and together with December 15, 2021 to, however not together with, January 13, 2022). This providing is a re-opening of KREF’s earlier issuance of 6,900,000 shares of Most well-liked Inventory. The extra shares of Most well-liked Inventory offered on this providing will kind a single sequence, and be absolutely fungible, with the excellent shares of Most well-liked Inventory. KREF additionally granted the underwriters a 30-day choice to buy as much as a further 660,000 shares of the Most well-liked Inventory on the public providing value, much less underwriting reductions and commissions. The Most well-liked Inventory could have a $25.00 per share liquidation choice. KREF will obtain gross proceeds of $110,000,000 from the sale of the Most well-liked Inventory earlier than deducting the underwriting low cost and different estimated providing bills. The providing is predicted to shut on January 13, 2022, topic to customary closing circumstances.
KREF intends to make use of the online proceeds from the providing to amass its goal belongings in a fashion in keeping with its funding methods and funding tips and for normal company functions.
The Most well-liked Inventory is listed on the New York Inventory Alternate below the ticker image “KREF PRA.”
Raymond James & Associates, Inc. and KKR Capital Markets LLC are performing as joint book-running managers for the providing.
A shelf registration assertion on Type S-3, together with a prospectus, associated to the Most well-liked Inventory has been filed by KREF with the U.S. Securities and Alternate Fee (“SEC”) and has develop into efficient. The providing shall be made solely via a prospectus complement and the accompanying prospectus, copies of which can be obtained from Raymond James & Associates, Inc., Attn: Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by phone at (800) 248-8863, or by e mail at email@example.com, or from KKR Capital Markets LLC, 30 Hudson Yards, New York, NY 10001 or by phone at (212) 230-9433, or by visiting the SEC’s web site at www.sec.gov below KREF’s title.
This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase these securities, nor shall there be any sale of those securities in any state or jurisdiction by which such supply, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About KKR Actual Property Finance Belief Inc.
KKR Actual Property Finance Belief Inc. is an actual property finance firm that focuses totally on originating and buying senior loans secured by business actual property properties. KREF is externally managed and suggested by an affiliate of KKR & Co. Inc. For added details about KREF, please go to its web site at www.kkrreit.com.
This press launch incorporates sure “forward-looking statements” throughout the which means of the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements usually could be recognized by means of forward-looking terminology resembling “outlook,” “imagine,” “count on,” “potential,” “proceed,” “might,” “ought to,” “search,” “roughly,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” the unfavourable model of those phrases, different comparable phrases or different statements that concern KREF’s operations, technique, projections or intentions. These “forward-looking” statements embrace statements referring to, amongst different issues, the proposed providing of the Most well-liked Inventory, the anticipated use of the online proceeds from the providing, and KREF’s expectations regarding market circumstances for an providing of the Most well-liked Inventory. By their nature, forward-looking statements communicate solely as of the date they’re made, are usually not statements of historic truth or ensures of future efficiency and are topic to dangers, uncertainties, assumptions or modifications in circumstances which might be troublesome to foretell or quantify, specifically as a result of uncertainties created by the COVID-19 pandemic, together with the projected affect of COVID-19 on KREF’s enterprise, monetary efficiency and working outcomes. The forward-looking statements are primarily based on KREF’s beliefs, assumptions and expectations, bearing in mind all info presently obtainable to it. These beliefs, assumptions and expectations can change on account of many potential occasions or components, not all of that are identified to KREF or are inside its management. Such forward-looking statements are topic to varied dangers and uncertainties, together with these described below Half I-Merchandise 1A. “Threat Components” in KREF’s Annual Report on Type 10-Okay for the fiscal 12 months ended December 31, 2020, filed with the SEC, as such components could also be up to date now and again in KREF’s periodic filings with the SEC. Accordingly, precise outcomes or outcomes might differ materially from these indicated on this launch. All forward-looking statements on this launch communicate solely as of the date of this launch. KREF undertakes no obligation to publicly replace or evaluation any forward-looking statements, whether or not on account of new info, future developments or in any other case, besides as required by legislation.
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Cara Main or Miles Radcliffe-Trenner
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