KKR
Private equity fund manager
Key facts
| Legal Name | Kohlberg Kravis Roberts & Co. L.P. |
|---|---|
| Company Operating Status | Active |
| Legal Entity Identifier | K3NEK11EF7N3JVJE7V46 |
| Wellfound ID | kkr |
| Wikidata ID | Q1570773 |
Capital structure
$3.0bn total debt
| Instrument | Coupon | Maturity | Amount | Source |
|---|---|---|---|---|
| Revolving Credit Facility · Senior Unsecured | Base Rate + Applicable Margin or Term SOFR + Applicable Margin ( | — | USD 3.0bn | source ↗ |
Covenant analysis
| Covenant | Term | vs market | Source |
|---|---|---|---|
| Debt to Total Capitalization Ratio · Financial Maintenance | Maximum 35% as of the end of any Fiscal Quarter | source ↗ | |
| Lien Restriction – No Liens on Insurance Subsidiary Capital Stock · Negative Covenant | No Credit Party or Material Subsidiary may create, assume, incur or suffer to exist any Lien on Capital Stock of an Insurance Subsidiary that is a Material Subsidiary | source ↗ | |
| Annual Financial Statements · Reporting Covenant | Delivery within 135 days after end of each Fiscal Year | source ↗ | |
| Quarterly Financial Statements · Reporting Covenant | Delivery within 60 days after end of each of first three Fiscal Quarters | source ↗ | |
| Change of Control Trigger · Event of Default | Acquisition of 35% or more of Voting Stock by non-Permitted Holders (post-IPO); or pre-IPO Permitted Holders cease to own 50.1% of GALD; or Holdings ceases to own 100% of Finco or any Borrower; or change of control under other debt instruments exceeding $250,000,000 | tight 35% vs event of default median 40% (n=25) | source ↗ |
| Cash Management Obligations Lien Basket · Negative Covenant | Liens securing Cash Management Obligations not to exceed $30,000,000 in aggregate | tight $30m vs basket median $300m (n=49) | source ↗ |
| Lien Restriction – General Basket · Negative Covenant | Aggregate Indebtedness secured by Liens under general basket not to exceed the greater of $450,000,000 and 10% of Net Worth of Holdings and its consolidated Restricted Subsidiaries | tight 10% vs basket median 20% (n=122) | source ↗ |
| Holdings Net Worth · Financial Maintenance | Minimum Net Worth equal to 70% of Net Worth of GALD and its consolidated Restricted Subsidiaries as of December 31, 2023, plus 50% of aggregate Net Income since December 31, 2023 (to the extent positive) | loose 70% vs financial maintenance median 10% (n=26) | source ↗ |
| Indebtedness of Non-Guarantor Restricted Subsidiaries · Negative Covenant | Non-Credit Party Restricted Subsidiaries (other than Insurance Subsidiaries) may not incur Indebtedness in aggregate principal amount in excess of $250,000,000 | market $250m vs negative covenant median $137.5m (n=56) | source ↗ |
| Capitalized Lease Liabilities and Purchase Money Debt Lien Basket · Negative Covenant | Aggregate principal amount of Indebtedness secured by Liens for Capitalized Lease Liabilities or Purchase Money Debt not to exceed $75,000,000 | tight $75m vs basket median $300m (n=49) | source ↗ |
Contact details
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