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Report: KKR to issue ¥30B of bonds

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Report: KKR to issue ¥30B of bonds

KKR & Co. LP plans to issue about ¥30 billion of bonds, The Nikkei reported March 14, without citing any sources.

The bonds will have tenors of five and seven years. The coupon rates and other details have yet to be determined.

The move will mark the company's first issuance of bonds denominated in Japanese yen. Proceeds from the issuance will be used to invest in Japanese companies with good long-term prospects.

If the issuance receives strong investor interest, KKR may issue more bonds later, potentially with a longer maturity of 20 years, the publication reported. It added that the company hopes to keep issuing bonds in Japan twice yearly.

Mizuho Securities and SMBC Nikko Securities will act as underwriters for the issuance.

As of March. 13, US$1 was equivalent to ¥106.57.