Large diversified REIT KKR Real Estate Finance Trust (KREF) has announced a new issuance of preferred stock. The REIT is externally managed by KKR & Co. (KKR)
The issue will be cumulative and have an early redemption period starting in April, 2026. I don’t believe the issue will be rated by any of the large national ratings firms.
KREF has no other outstanding baby bonds or preferred stock so this will be their 1st shot at a preferred issue.
EarlyBird was early on this one.
Sorry I was late getting this posted–some days are like that I guess.