KKR - KKR Secures $7.2B Prime RV Loan Portfolio In Strategic Move With BMO Collaboration | Benzinga
KKR & Co Inc (NYSE: KKR) disclosed the buyout of a super-prime recreational vehicle (RV) loan portfolio worth $7.2 billion from BMO Bank National Association, part of BMO Financial Group (BMO).
As per the deal, BMO will remain the servicer of the loans and will continue to originate and manage RV loans, with no expected impact to dealers, borrowers, and employees.
Concurrently with the sale, BMO bought senior notes worth around $6.4 billion collateralized by the sold loans.
The acquisition will offer diversification to KKR's traditional corporate credit ...