Event Details
November 01, 2005
Description
KLC refinanced indebtedness, divided KUE into KLC OpCo and KLC PropCo, and entered into a Master Lease.
Participants (3)
| Name | Type | Mentions | |
|---|---|---|---|
| KLC OpCo | person | 0 | View Entity |
| KUE | organization | 219 | View Entity |
| KLC | organization | 174 | View Entity |
Source Documents (1)
HOUSE_OVERSIGHT_024538.jpg
This document, page 105 of a House Oversight file (Bates 024538), details the financial terms of a Real Estate Transaction involving 'KLC' entities (likely KinderCare). It outlines the terms of Junior Mezzanine debt, including interest rates (15.13% cash/1.50% PIK), maturity (May 2016), and prepayment penalties. Additionally, it describes a Master Lease agreement established in November 2005 where KLC OpCo leases 713 centers from KLC PropCo for $91 million annually under a triple net lease structure.
Related Events
Events with shared participants
KLC's fiscal year 2005 audit
2005-01-01 • N/A
KLC fiscal year audit
2005-01-01 • N/A
KLC acquired Aramark Educational Resources (AER)
2003-05-01 • U.S.
KLC separated its education operations from its real estate assets.
2005-11-01 • USA
KLC divided its business into PropCo (real estate) and OpCo (operations).
2005-11-01 • N/A
Start date for quarterly installment payments from KUE to KULG.
2006-07-01 • N/A
KLC separated its education operations (KLC OpCo) from its real estate assets (KLC PropCo).
2005-11-01 • USA
Expected completion of the Offering Period
2007-03-31 • N/A
Offering of Units / Investment Opportunity
Date unknown • Not specified
Completion of this offering
Date unknown • Not specified
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