KKR Real Estate Finance down after pricing $125 mln equity offering

KKR Real Estate Finance Trust

03/03/2022 12:44

** KKR Real Estate Finance Trust  KREF.N  shares down 4.3%
at $20.76 premarket after follow-on prices
    ** KKR  KKR.N -backed commercial mortgage REIT late Weds
sold 6 mln shares for $125 mln gross raise  urn:newsml:reuters.com:*:nBw6xr1W6a
    ** Offering prices at $20.83, 4% discount to stock's last
sale, bottom of $20.83-$21.04 marketed range  urn:newsml:reuters.com:*:nL1N2V53RK
    ** Co has ~61.4 mln shares outstanding for ~$1.3 bln market
cap, per Refinitiv data
    ** Shares up ~4% YTD through Weds close, following ~16% gain
in 2021
    ** Morgan Stanley, Wells Fargo, Goldman, Raymond James,
Barclays, Citigroup, Deutsche Bank, JP Morgan and KBW acting as
jt bookrunners for offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))