NEW YORK--(BUSINESS WIRE)--
KKR Real Estate Finance Trust Inc. (“KREF”) (NYSE:KREF) announced the
pricing of a public offering of 4,500,000 shares of its common stock,
consisting of 500,000 shares to be issued and sold by KREF (the “Primary
Shares”) and 4,000,000 shares to be sold by certain of KREF’s existing
stockholders (the “Secondary Shares” and, together with the Primary
Shares, the “Shares”). KREF will receive gross proceeds of approximately
$10 million from the sale of the Primary Shares. The selling
stockholders will receive gross proceeds of approximately $80 million
from the sale of the Secondary Shares. The Shares will be offered from
time to time for sale in one or more transactions on the New York Stock
Exchange, in the over-the-counter market, through negotiated
transactions or otherwise at market prices prevailing at the time of
sale, at prices related to prevailing market prices or at negotiated
prices. The offering is expected to close on November 19, 2018, subject
to customary closing conditions.
KREF intends to use the net proceeds from the offering of the Primary
Shares to acquire its target assets in a manner consistent with its
investment strategies and investment guidelines and for general
corporate purposes. KREF will not receive any of the proceeds from the
Secondary Shares sold by the selling stockholders.
Morgan Stanley, Citigroup, Deutsche Bank Securities, Goldman Sachs & Co.
LLC and Wells Fargo Securities are acting as the underwriters for the
offering.
A shelf registration statement on Form S-3, including a prospectus,
related to the Shares has been filed by KREF with the U.S. Securities
and Exchange Commission (“SEC”) and has become effective. The offering
will be made only by means of a prospectus supplement and the
accompanying prospectus, copies of which may be obtained from Morgan
Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd
Floor - New York, NY 10014, or from Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717, by telephone at (800) 831-9146, or from Deutsche Bank Securities
Inc., Attn.: Prospectus Group, 60 Wall Street, New York, NY 10005-2836,
by telephone at (800) 503-4611, or by email at [email protected],
or from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, NY 10282, by telephone at (866) 471-2526, or by
email at [email protected],
or by email: [email protected]
or by calling toll-free: (866) 471-2526, or from Wells Fargo Securities,
LLC, Attention: Equity Syndicate, 375 Park Avenue, New York, NY
10152-4077, or by email: [email protected],
or by calling toll-free: (800) 326-5897, or by visiting the SEC’s
website at www.sec.gov
under KREF’s name.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About KREF
KREF 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.
Forward-Looking Statements
This press release contains certain “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements generally can be identified by the use of
forward-looking terminology such as “assumptions,” “target,” “guidance,”
“outlook,” “plans,” “projection,” “may,” “will,” “would,” “should,”
“seeks,” “expect,” “intend,” “estimate,” “anticipate,” “believe,”
“potential” or “continue” (or the negative or other derivatives of each
of these terms) or similar expressions that concern KREF’s operations,
strategy, projections or intentions. These “forward-looking” statements
include statements relating to, among other things, the proposed
offering of the Shares, the expected use of the net proceeds from the
offering, and KREF’s expectations concerning market conditions for an
offering of common stock. Forward-looking statements are subject to a
number of risks and uncertainties, many of which involve factors or
circumstances that are beyond KREF’s control. These and other important
risk factors are discussed under the heading “Risk Factors” in KREF’s
Annual Report on Form 10-K for the fiscal year ended December 31, 2017,
filed with the SEC, as such factors may be updated from time to time in
KREF’s other periodic filings with the SEC. Accordingly, actual outcomes
or results may differ materially from those indicated in this release.
All forward-looking statements in this release speak only as of the date
of this release. KREF undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future developments or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181115005442/en/
MEDIA:
Kristi Huller or Cara Major
(212) 750-8300
[email protected]
INVESTOR RELATIONS:
Sasha Hamilton
(212) 401-0447
[email protected]
Source: KKR Real Estate Finance Trust Inc.
