KKR & Co. Inc. Enters $3.0B Revolving Credit Facility

What Happened
KKR & Co. Inc. filed an 8‑K reporting that on July 30, 2026 its indirect subsidiaries, KKR Group Partnership L.P. and Kohlberg Kravis Roberts & Co. L.P., entered into a Fourth Amended and Restated Credit Agreement with HSBC Bank USA, N.A. as administrative agent. The agreement provides a senior unsecured multicurrency revolving credit facility of $3.0 billion (with an option to increase by up to $750 million), scheduled to mature July 30, 2031, and replaces the prior facility dated July 3, 2024.

Key Details

• Facility size: $3.0 billion initial commitments; incremental increase option up to $750 million, subject to lender consent.
• Maturity and terms: five‑year facility maturing July 30, 2031; borrowers may extend maturity or prepay/terminate without penalty (lender consent required for extension).
• Pricing: U.S. dollar borrowings priced at term SOFR or alternate base rate; term SOFR margin based on KKR’s corporate ratings grid at 57.5–112.5 bps. Facility fee on total commitments also based on ratings grid at 5–12.25 bps.
• Guarantees and use: Borrowings are guaranteed by KKR & Co. Inc. and available for general corporate purposes in USD and other currencies.
• Covenants and default: Includes a maximum leverage covenant of 4.0x covenant EBITDA (excluding Global Atlantic) and a requirement to maintain at least $195 billion in fee‑paying assets under management, plus customary affirmative/negative covenants and events of default allowing lender acceleration.

Why It Matters
This new $3.0B revolving facility provides KKR with committed liquidity and flexibility for general corporate needs through mid‑2031, under senior unsecured terms and a ratings‑based pricing grid. Key financial covenants (notably the 4.0x leverage cap and $195B fee‑paying AUM requirement) are material to credit flexibility and could affect borrowing capacity if KKR’s leverage or AUM metrics change.