KKR prices $500 mln of notes, follows Blackstone

* Blackstone sold $400 mln earlier this month

* KKR previously canceled plans for equity offering

NEW YORK, Sept 22 (Reuters) - Private equity firm Kohlberg Kravis Roberts & Co (KKR.N) on Wednesday sold $500 million of senior secured notes, according to IFR Thomson Reuters, a month after it canceled plans for an equity offering of the same amount.

Rival Blackstone Group (BX.N) similarly had sold $600 million in a first corporate bond offering in August 2009 after it went public. Blackstone also sold $400 million of senior unsecured notes earlier this month, according to IFR.

KKR's sale of bonds was two times oversubscribed, a source familiar with the deal said. KKR said it would use the proceeds of the bond offering for general corporate purposes.

KKR had originally planned to sell $500 million of new common units, but canceled those plans shortly after listing on the New York Stock Exchange in the summer. KKR had said it planned to use proceeds of that sale to expand its business and for general corporate purposes.

Shares of KKR closed 1.7 percent higher at $10.26 on Wednesday. (Reporting by Megan Davies; Editing by Gary Hill)