KKR & Co. Enhances Credit Facilities with New Agreements

KKR & Co (KKR) just unveiled an update.

KKR & Co. Inc. has updated its financial agreements by securing a new 364-day revolving credit facility and amending a 5-year revolving credit agreement, both providing up to $750 million and structured with variable interest rates pegged to benchmarks like SOFR, EURIBOR, and SONIA, plus applicable margins. These arrangements, strictly for KKR’s capital markets operations, are backed by certain assets and equity interests, ensuring the liabilities are non-recourse to KKR’s other businesses, and include a financial covenant on the maximum debt-to-equity ratio for the borrowing subsidiaries.

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