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KFN > SEC Filings for KFN > Form 8-K on 30-Sep-2013All Recent SEC Filings

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Creation of a Direct Financial Obligation or an Obligation under an Of

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 September 27, 2013, 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 $225 million and the Company purchased an additional $75 million of subordinated notes from CLO 2011-1. CLO 2011-1's borrowings under the amended CLO Transaction will be made on substantially 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 Reports on Form 8-K filed with the Securities and Exchange Commission on March 31, 2011 and July 8, 2011 and the Company's Quarterly Report on Form 10-Q filed with Securities and Exchange Commission on August 7, 2013.

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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