KKR slips after $1.5 bln convertible stock deal unveiled

Shares of KKR & Co KKR.N down 2.1% at $130.19 premarket as co seeks capital raise

Co announces $1.5 bln 3-yr mandatory convertible preferred stock deal

It plans to use net proceeds to acquire additional equity interests in its core private equity portfolio companies, and for general purposes

Morgan Stanley and KKR's capital markets arm are leading the offering

KKR has ~$118.1 bln market cap, per LSEG data

Through Mon close, KKR shares down 10% YTD but up ~35% over the past 12 months. Stock notched record high close of $167.07 on Jan 31