KKR Real Estate Finance Trust’s $143.8 Million Convertible Senior Notes Offering


Simpson Thacher represented KKR Real Estate Finance Trust Inc. (“KREF”) in connection with a private offering of approximately $143.8 million aggregate principal amount of its 6.125% Convertible Senior Notes due 2023.

KREF intends to use the net proceeds from the offering to acquire its target assets in a manner consistent with its investment strategies and investment guidelines.

KREF is a real estate finance company that focuses primarily on originating and acquiring senior loans secured by commercial real estate assets. KREF is externally managed and advised by KKR Real Estate Finance Manager LLC, a subsidiary of KKR & Co. L.P.

The Simpson Thacher team included Joe Kaufman (Picture), Roxane Reardon, Sunny Cheong, Matthew Levy and Andrew Hwang (Capital Markets); David Blass, Ben Wells and Nicholas Ridley (Registered Asset Management); Marcy Geller, Sophie Staples and Brian Mendick (Tax); David Rubinsky and Erin Murphy (Executive Compensation and Employee Benefits); Jennifer Nadborny and Ellen Smiley (Public Company Advisory Practice); and Marcela Robledo (Intellectual Property). Counsel Jennie Getsin and Summer Associate Chirag Desai also provided invaluable assistance.

Involved fees earner: Joseph Kaufman – Simpson Thacher & Bartlett; Roxane Reardon – Simpson Thacher & Bartlett; Sunny Cheong – Simpson Thacher & Bartlett; Matthew Levy – Simpson Thacher & Bartlett; Andrew Hwang – Simpson Thacher & Bartlett; David Blass – Simpson Thacher & Bartlett; Benjamin Wells – Simpson Thacher & Bartlett; Nicholas Ridley – Simpson Thacher & Bartlett; Marcy Geller – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; David Rubinsky – Simpson Thacher & Bartlett; Erin Murphy – Simpson Thacher & Bartlett; Jennifer Nadborny – Simpson Thacher & Bartlett; Ellen Smiley – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: KKR Real Estate Finance Trust Inc.;

Author: Ambrogio Visconti