KKR issues $1bn mando to fund deal for insurer Global Atlantic

By Aidan Gregory
12 Aug 2020

KKR, the US private equity group, has sold a $1bn mandatory convertible bond to fund its acquisition of life insurer Global Atlantic Financial Group, which it announced last month.

The three year bond was priced with a 6% coupon and was increased from an initial size of $750m owing to the strength of the demand. The final deal size could increase to $1.15bn, if the greenshoe is used by the underwriters.

Goldman Sachs, KKR Capital Markets ...

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