KKR Real Estate Finance Trust has completed its private offering of $143.8 million aggregate principal amount of its 6.125% convertible senior notes due May 15, 2023.
The amount includes the $18.8 million aggregate principal amount of the notes issued pursuant to the full exercise by the initial purchasers.
The notes will bear interest at a rate of 6.125% per year, payable semiannually in arrears on May 15 and Nov. 15 of each year, beginning Nov. 15.
The net proceeds from the offering were about $138.9 million, after deducting the initial purchasers' discounts and the estimated offering expenses payable by the company.
KKR intends to use the net proceeds to acquire its target assets.