Milbank, Tweed, Hadley & McCloy LLP recently represented affiliates of KKR Asset Management LLC (KAM) in the structuring and issuance of approximately $519 million of collateralized loan obligation (CLO) notes in a transaction in which Citigroup Global Markets Inc. acted as lead initial purchaser and placement agent, KKR Capital Markets LLC acted as an initial purchaser and placement agent, and Natixis Securities Americas LLC acted as a placement agent. The CLO notes are collateralized primarily by a diversified portfolio of senior secured corporate loan obligations selected by and to be managed for the CLO issuer by a KAM affiliate. KAM was formed in June 2004 as a subsidiary of Kohlberg Kravis Roberts & Co. L.P., a leading global investment firm with a 37-year history of leadership, innovation and investment excellence.
Partner Deborah Festa led the Milbank team, which also included partner James Warbey and associate John Goldfinch who advised on EU risk retention compliance matters, and associates Michael Nguyen, Jennifer Harris, and John McManmon. Festa comments, “We were thrilled to contribute to the success of this CLO, which like so many of KAM’s transactions is innovative in its approach and structure.”
