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KKR Real Estate Finance Trust Inc. Announces Closing of New $550 Million Senior Secured Term Loan B
NEW YORK, March 05, 2025--KKR Real Estate Finance Trust Inc. ("KREF") (NYSE: KREF) announced today that it closed on a Term Loan B (the "New Term Loan B") for an aggregate principal amount of $550 million due in 2032. KREF intends to use the net proceeds from the New Term Loan B to repay the existing Term Loan B due in 2027, repay other indebtedness and for general corporate purposes. The New Term Loan B priced at 99.875% and bears interest at SOFR plus 325 basis points.
About this update from Kkr Real Estate Finance Trust Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":356,"url":"https://media.zenfs.com/en/business-wire.com/17a51ae8075e936fee1038a05a3613e0"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Un4wXUFYFPt0nANfpfaO_w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTcxMjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/17a51ae8075e936fee1038a05a3613e0","width":480,"height":356}},"lazy":false},{"type":"text","content":"NEW YORK, March 05, 2025--(BUSINESS WIRE)--KKR Real Estate Finance Trust Inc. ("KREF") (NYSE: KREF) announced today that it closed on a Term Loan B (the "New Term Loan B") for an aggregate principal amount of $550 million due in 2032. KREF intends to use the net proceeds from the New Term Loan B to repay the existing Term Loan B due in 2027, repay other indebtedness and for general corporate purposes. The New Term Loan B priced at 99.875% and bears interest at SOFR plus 325 basis points.","length":512,"tagName":"p"},{"type":"text","content":"Patrick Mattson, President and Chief Operating Officer of KREF, stated: "KREF is pleased to grow its presence in the Term Loan B market with our new, $550 million, 7-year deal. This offering extends the duration of our capital and contributes to our best in-class, diversified Non-Mark-To-Market liability structure, at a time when we have returned to offense and are actively lending in the market."","length":410,"tagName":"p"},{"type":"text","content":"About KKR Real Estate Finance Trust Inc.","length":40,"tagName":"p"},{"type":"text","content":"KKR Real Estate Finance Trust Inc. is a real estate finance company that focuses primarily on originating and acquiring senior loans secured by commercial real estate properties. KREF is externally managed and advised by an affiliate of KKR & Co. Inc. For additional information about KREF, please visit its website at www.kkrreit.com.","length":339,"tagName":"p"},{"type":"text","content":"View source version on businesswire.com: https://www.businesswire.com/news/home/20250305493579/en/","length":98,"tagName":"p"},{"type":"text","content":"Contacts","length":8,"tagName":"p"},{"type":"text","content":"Investor Relations: Jack Switala(212) [email protected]","length":64,"tagName":"p"},{"type":"text","content":"Media: Mi...