• SEC Filings

On June 29, 2017, KKR Capital Markets Holdings L.P. and certain other capital market subsidiaries (collectively, the “Borrowers”) of KKR & Co. L.P. (together with its subsidiaries, “KKR”) entered into a 364-day revolving credit agreement (the “Agreement”) with Mizuho Bank, Ltd., as administrative agent. The Agreement provides for revolving borrowings of up to $750 million, expires on June 28, 2018, and ranks pari passu with the existing $500 million credit facility provided by them for KKR's capital markets business. Borrowings under the Agreement may only be used to facilitate the settlement of debt transactions syndicated by KKR’s capital markets business. Obligations under the Agreement are limited to the Borrowers, which are solely entities involved in KKR’s capital markets business, and liabilities under the Agreement are non-recourse to other parts of KKR.

If a borrowing is made under the Agreement, the interest rate will vary depending on the type of drawdown requested. If the borrowing is a Eurocurrency loan, it will be based on a LIBOR rate plus an applicable margin ranging between 1.25% and 2.50%, depending on the duration of the loan. If the borrowing is an ABR loan, it will be based on a base rate plus an applicable margin ranging between 0.25% and 1.50%, depending on the duration of the loan. A facility fee of 0.20% is also payable on the entire facility amount.

The Agreement contains customary representations and warranties, events of default, and affirmative and negative covenants, including a financial covenant providing for a maximum debt to equity ratio for the Borrowers. The Borrowers’ obligations under the Agreement are secured by certain assets of the Borrowers, including a pledge of equity interests of certain subsidiaries of the Borrowers.

The information set forth in Item 1.01 is incorporated by reference into this Item 2.03.

About KKR & CO. L.P. (NYSE:KKR)

KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties. It operates through four segments. Through its Private Markets segment, KKR manages and sponsors a group of private equity funds and co-investment vehicles that invest capital for long-term appreciation, either through controlling ownership of a company or strategic minority positions. The Company operates and reports its combined credit and hedge funds businesses through the Public Markets segment. Its Capital Markets segment consists primarily of the Company’s global capital markets business. Through Principal Activities segment, the Company manages its firm’s assets and deploys capital.