The investment-grade notes offering consists of six tranches

Davis Polk advised the initial purchasers in connection with a Rule 144A / Regulation S offering by KKR Group Finance Co. XI LLC, a wholly owned finance subsidiary of KKR & Co. Inc., of ¥44.7 billion aggregate principal amount of 1.428% senior notes due 2028, ¥1.8 billion aggregate principal amount of 1.614% senior notes due 2030, ¥1.5 billion aggregate principal amount of 1.939% senior notes due 2033, ¥3 billion aggregate principal amount of 2.312% senior notes due 2038, ¥4.5 billion aggregate principal amount of 2.574% senior notes due 2043 and ¥6 billion aggregate principal amount of 2.747% senior notes due 2053.

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. Since inception, KKR has completed approximately 700 private equity investments in portfolio companies with a total transaction value in excess of $700 billion.

The Davis Polk capital markets team included partner Byron B. Rooney and counsel Jennifer Ying Lan. Partner Patrick E. Sigmon and associates Yueyu Yang and Omar Hersi provided tax advice. All members of the Davis Polk team are based in the New York office.