DFX Intelligence
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Borrower
K•• A•••• B••••• L••
Transportation Infrastructuregroup grade Aon a schedule nowsponsor unattributed
Also written as: LLC Emerald JV LP; Verdelite JV LP
Principal held
at least $75.0M
sum of BDC pieces, a lower bound
Fair value
$75.1M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
10
6 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Sep 1, 2031
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
7
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $75.0M | 100c | SOFR+250 bp | Sep 23, 2031 | 7 |
| other lien unstated exited Mar 31, 2025 | at least $3.5M | 100c | S+250 bp | Sep 23, 2031 | 3 |
| second lien term loan second lien exited Dec 31, 2022 | at least $1.2M | 97c | S+575 bp | Sep 21, 2029 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• S•••••••• I••••• F••• | term loan first lien First lien senior secured loan | $35.8M | $35.9M 100c | S+250 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien Instrument First Lien Term Loan Ref SOFR(M) Spread 2.50% Total Coupon 6.14% Maturity 9/23/ | $329,523 | $330,212 100c | SOFR+250 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st Lien/Senior Secured Debt Industry Construction & Engineering Interest Rate 6.14% Refer | $28.1M | $28.1M 100c | SOFR+250 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien Senior secured | $3.0M | $3.0M 100c | S+250 bp |
| N•••• H•••• P•••••• I••••• F••• A• L•• | term loan first lien Investment First Lien Debt Reference Rate and Spread S + 2.50% Interest Rate 6.14% Maturit | $489,000 | $489,000 100c | SOFR+250 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | term loan first lien Investment First Lien Debt Reference Rate & Spread S + 2.50% Interest Rate 6.14% Maturity | $7.2M | $7.2M 100c | SOFR+250 bp |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2026 | 6 | $75.0M | $75.1M | 100c | 0 |
| Mar 31, 2026 | 6 | $75.2M | $75.2M | 100c | 0 |
| Dec 31, 2025 | 6 | $112M | $112M | 100c | 0 |
| Sep 30, 2025 | 6 | $67.1M | $67.1M | 100c | 0 |
| Jun 30, 2025 | 6 | $52.1M | $52.0M | 100c | 0 |
| Mar 31, 2025 | 7 | $47.8M | $47.4M | 99c | 0 |
| Dec 31, 2024 | 5 | $77.3M | $77.8M | 101c | 0 |
| Sep 30, 2024 | 5 | $29.8M | $29.8M | 100c | 0 |
| Jun 30, 2024 | 5 | $23.7M | $23.7M | 101c | 0 |
| Mar 31, 2024 | 4 | $19.7M | $19.7M | 101c | 0 |
| Dec 31, 2023 | 4 | $19.4M | $19.4M | 101c | 0 |
| Sep 30, 2023 | 4 | $18.4M | $18.3M | 101c | 0 |
| Jun 30, 2023 | 4 | $12.8M | $12.2M | 101c | 0 |
| Mar 31, 2023 | 2 | $6.4M | $6.3M | 100c | 0 |
| Dec 31, 2022 | 4 | $13.6M | $13.4M | 100c | 0 |
| Sep 30, 2022 | 1 | $3.0M | $2.9M | 99c | 0 |
What changed
- Maturity extended (observed)Mar 31, 2025
- New lender joined a facilityMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- Maturity extended (observed)Mar 31, 2025
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityJun 30, 2024
- Spread changed (observed)Dec 31, 2023
- Spread changed (observed)Sep 30, 2023
- New lender joined a facilitySep 30, 2023
- Spread increasedSep 30, 2023
- Spread changed (observed)Dec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- New borrower on a BDC scheduleSep 30, 2022
- Lender left a facilitySep 30, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- KKR APPLEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 10 BDCsderived
- Industry
- Transportation Infrastructurereportedas one filer wrote it