KKR Real Estate Finance Trust (KREF) Prices $125M Offering

KKR Real Estate Finance Trust Inc. (“KREF”) (NYSE: KREF) today announced the pricing of an underwritten public offering of 6,000,000 shares of its common stock. The underwriters have been granted a 30-day option by KREF to purchase an additional 900,000 shares. Total estimated gross proceeds of the offering are approximately $125 million or $143.7 million if the underwriters exercise their option to purchase additional shares in full. The offering is expected to close on March 7, 2022 and is subject to customary closing conditions.

KREF intends to use the net proceeds from the offering to acquire its assets in a manner consistent with its investment strategies and investment guidelines and for general corporate purposes.

Morgan Stanley, Wells Fargo Securities, Goldman Sachs & Co. LLC, Raymond James, Barclays, Citigroup, Deutsche Bank Securities, J.P. Morgan and Keefe, Bruyette & Woods, a Stifel Company, are acting as joint book-running managers for the offering. BTIG is acting as co-manager for the offering.

A registration statement on Form S-3 relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and has been declared effective. The offering will be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus may be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 and Wells Fargo Securities, Attn: Equity Syndicate Department, 30 Hudson Yards, 500 West 33rd Street – 14th Floor, New York, NY 10001; or by visiting the SEC’s website at www.sec.gov under KKR Real Estate Finance Trust Inc.’s name.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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