0001104659-11-038341.txt : 20110708 0001104659-11-038341.hdr.sgml : 20110708 20110708130048 ACCESSION NUMBER: 0001104659-11-038341 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110706 ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20110708 DATE AS OF CHANGE: 20110708 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KKR Financial Holdings LLC CENTRAL INDEX KEY: 0001386926 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] IRS NUMBER: 113801844 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33437 FILM NUMBER: 11958643 BUSINESS ADDRESS: STREET 1: 555 CALIFORNIA STREET, 50TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 BUSINESS PHONE: (415) 315-3620 MAIL ADDRESS: STREET 1: 555 CALIFORNIA STREET, 50TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 8-K 1 a11-17206_18k.htm 8-K

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 6, 2011

 

KKR Financial Holdings LLC

(Exact Name of Registrant as specified in its charter)

 

Delaware

 

001-33437

 

11-3801844

(State or other Jurisdiction
of Incorporation)

 

(Commission File Number)

 

(I.R.S. Employer
Identification No.)

 

555 California Street, 50th Floor, San Francisco, California

 

94104

(Address of principal executive office)

 

(Zip Code)

 

415-315-3620

Registrant’s telephone number, including area code

 

N/A

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13.e-4(c))

 

 

 


 

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

Amendments to KKR Financial CLO 2011-1 Financing Transaction

 

On July 6, 2011, KKR Financial CLO 2011-1, Ltd. (“CLO 2011-1”), a subsidiary of KKR Financial Holdings LLC (the “Company”) and exempted company incorporated with limited liability under the laws of the Cayman Islands, entered into amendments to its existing secured financing transaction (the “CLO Transaction”).  Pursuant to the amendments, CLO 2011-1 can borrow up to an additional $150 million and the Company purchased an additional $50 million of subordinated notes from CLO 2011-1, increasing the CLO Transaction’s total available capital from $400 million to $600 million.  In addition, the amendments also reduced the par value ratio test for the CLO Transaction (failure of which would cause up to 50% of all interest collections that would otherwise be payable to the Company to be diverted until this test is brought into compliance) from 133.33% to 120%.  CLO 2011-1’s borrowings under the amended CLO Transaction will otherwise be made on the same terms as those of the original transaction, including an interest rate of LIBOR plus 1.35% per annum, as described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on March 31, 2011 and the Company’s Quarterly Report on Form 10-Q filed with Securities and Exchange Commission on May 2, 2011.

 

CLO 2011-1 will use the additional capital to purchase senior secured corporate loans. The CLO Transaction remains non-recourse to the Company.

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

KKR FINANCIAL HOLDINGS LLC

 

 

 

 

 

 

 

By:

/s/ MICHAEL R. MCFERRAN

 

Name:

Michael R. McFerran

 

Title:

Chief Financial Officer

 

 

 

Date: July 8, 2011

 

 

 

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