The Firm represented KKR Financial Holdings LLC in connection with its recent registered public offering and sale of 34.5 million of its common shares, resulting in gross proceeds of approximately $409 million. Concurrently, the Firm also represented KKR Financial in the negotiation of a settlement with holders of secured liquidity notes issued by two asset-backed conduits sponsored by a subsidiary of the company.
KKR Financial Holdings is a specialty finance company that invests in financial assets primarily consisting of corporate loans and securities. The company is externally managed by KKR Financial Advisors, which is an affiliate of Kohlberg Kravis Roberts & Co. L.P.
The Simpson Thacher team for the common share offering included Nakima Benjamin, Patrick Dowd, Joseph Kaufman, Peter Rosen, Steven Todrys and Timothy Turton. For the settlement, the Simpson Thacher team included Michael Chepiga, James Cross, David Eisenberg, Joseph Kaufman, Lynn Neuner, Laura Palma, Peter Pantaleo, John Schueller and Steven Todrys.