Milbank represents KKR Asset Management in USD300m CLO upsize
Milbank, Tweed, Hadley & McCloy represented affiliates of KKR Asset Management (KAM) in connection with the USD300m upsize of the existing KKR Financial CLO 2011-1 secured financing.
This permitted the CLO issuer to borrow up to an incremental USD225m to purchase senior secured corporate loans.
In connection with the upsize, KKR Financial Holdings increased its residual interest in the transaction through the acquisition of an additional USD75m of subordinated notes. The transaction initially closed in March 2011 and was previously upsized in July 2011.
Partner Deborah M Festa led the Milbank team, which included associate Michael Nguyen.
“We were delighted to assist KAM and its affiliates in connection with the upsize of this groundbreaking transaction,” says Festa.
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