KKR Real Estate Finance falls on stock offering

KKR Real Estate Finance Trust

02/03/2022 21:50

** KKR Real Estate Finance Trust  KREF.N  shares down nearly
4% post-market as co looks to raise equity
    ** KKR  KKR.N -backed commercial mortgage REIT to sell 6 mln
shares  urn:newsml:reuters.com:*:nBw4Cnpxga
    ** Offering being marketed in range of $20.83-$21.04, up to
4% discount to stock's $21.69 last sale, according to market
sources
    ** KREF's book value/sh was $19.37 at end-Dec, up from
$19.09 at end-Sept
    ** Co has ~61.4 mln shares outstanding for ~$1.3 bln market
cap, per Refinitiv data
    ** Shares up 4.1% YTD and have gained 15.2% in past year
    ** Morgan Stanley, Wells Fargo, Goldman, Raymond James,
Barclays, Citigroup, Deutsche Bank, JP Morgan and KBW 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))