KKR invests in WMI

KKR has made an investment in WMI Holdings Corp (formerly Washington Mutual). Under terms of the agreement, KKR has bought approximately $11 million of convertible preferred stock of WMI and has committed to acquire up to $150 million of subordinated 7.5% PIK notes. Blackstone Advisory Partners L.P. advised WMI on the transaction. Based in Seattle, WMI focuses on operating reinsurance business in runoff mode.

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