KKR.PR.D: 6.25% Mandatory Convertible Preferred Stock IPO From KKR & Co.
Source: SeekingAlpha
2025-03-21 08:48:05 ET
Summary
- KKR & Co. Inc. has issued a 6.25% Series D Mandatory Convertible Preferred Stock, trading at $49.36 with a Yield to Maturity of 6.98%.
- The new preferred stock is not rated by S&P, Moody's, or Fitch, and will convert based on KKR's average stock price before March 1, 2028.
- KKR-D is expected to align closely with KKR's common stock price, offering potential arbitrage opportunities when deviating.
- KKR-D at the moment presents no investment interest to us. Will monitor it for future opportunities to profit from.
Co-authored by Relative Value.
Overview
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KKR.PR.D: 6.25% Mandatory Convertible Preferred Stock IPO From KKR & Co.
KKR Group Finance Co. IX LLC 4.625% Subordinated Notes due 2061
NASDAQ: KKRS
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Asset Management Services
Finance
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