KKR Completes Offerings of Mandatory Convertible Preferred Stock and Senior Notes to Fund Global Atlantic Acquisition
08.25.20
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The Firm represented KKR & Co. Inc. (NYSE: KKR) in connection with the registered offering of 23,000,000 shares of KKR’s 6% Series C Mandatory Convertible Preferred Stock, raising gross proceeds of approximately $1.15 billion and the Rule 144A/Regulation S offering of $750 million aggregate principal amount of 3.5% Senior Notes due 2050 by KKR Group Finance Co. VIII LLC, an indirect finance subsidiary of KKR & Co. Inc. The two offerings resulted in aggregate net proceeds of over $1.9 billion, which KKR intends to use to partially fund its pending acquisition of Global Atlantic Financial Group Limited.
The Simpson Thacher team included Joe Kaufman, Lia Toback, Ben Heriaud and Arielle Trapp (Capital Markets); Marni Lerner, Kathryn Sudol, Jihyun Chung andNina Bakhtina (Mergers & Acquisitions); Marcy Geller, Andrew Purcell, Joseph Tootle and Edward Grais (Tax); and Jeanne Annarumma (Executive Compensation and Employee Benefits).