SAN FRANCISCO, Dec. 7, 2010 /PRNewswire-FirstCall/ -- KKR
Financial Holdings LLC (NYSE: KFN) announced today that it has
agreed to sell 18,000,000 of its common shares in an underwritten
public offering. The last reported sale price of the common
shares on December 7, 2010 was
$9.48 per share. KFN also has
granted the underwriter a 30-day option to purchase up to 2,700,000
additional common shares. KFN intends to use the net proceeds
from this offering to acquire assets in accordance with its core
business strategy and for general corporate purposes. Closing
of the offering is expected to occur on or about December 13, 2010, subject to customary closing
conditions.
Morgan Stanley & Co. Incorporated is acting as the sole
underwriter for the offering.
The offering is being made pursuant to an effective shelf
registration statement. The offering may be made only by
means of a prospectus supplement and the accompanying prospectus,
copies of which may be obtained by sending a request to: Morgan
Stanley & Co. Incorporated, Attn: Prospectus Department, 180
Varick Street, New York, NY 10014,
by emailing prospectus@morganstanley.com or by calling toll-free in
the United States
1-866-718-1649.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the securities, nor shall
there by any sale of these securities, in any state in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities law of any such state.
About KKR Financial Holdings LLC
KKR Financial Holdings LLC is a specialty finance company with
expertise in a range of asset classes. KFN's core business
strategy is to leverage the proprietary resources of its manager
with the objective of generating both current income and capital
appreciation. KFN is externally managed by KKR Financial
Advisors LLC, a wholly-owned subsidiary of KKR Asset Management
LLC, which is a wholly-owned subsidiary of Kohlberg Kravis Roberts
& Co. L.P. KFN executes its core business strategy
through majority-owned subsidiaries. Additional information
regarding KFN is available at http://www.kkr.com.
Investor Relations
Contact:
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Laurie Poggi
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Kohlberg Kravis Roberts &
Co.
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Tel: +1 (415)
315-3718
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investor-relations@kkr.com
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Media Relations
Contacts:
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Peter McKillop or Kristi
Huller
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Kohlberg Kravis Roberts &
Co.
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Tel: + 1 (212)
750-8300
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media@kkr.com
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SOURCE KKR Financial Holdings LLC