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791 KB
Extraction Summary
3
People
5
Organizations
0
Locations
2
Events
3
Relationships
3
Quotes
Document Information
Type:
Financial disclosure / legal report
File Size:
791 KB
Summary
This document page details financial indebtedness and affiliate transactions involving Knowledge Universe Education (KUE), k12, and the Milken brothers (Michael and Lowell). It outlines a $150 million loan used to repay debt to Michael Milken's entities, details the Milken brothers' ownership of k12 trademarks and stocks, and identifies Condors LLC as a lender for a mezzanine loan. The document bears a House Oversight stamp.
People (3)
| Name | Role | Context |
|---|---|---|
| Michael Milken | Affiliate/Controller |
Controlled entities that KUE owed debt to; co-owns affiliate holding k12 trademark and stock.
|
| Lowell Milken | Affiliate |
Co-owns affiliate holding k12 trademark and stock.
|
| The Principals | Owners |
Entities or individuals who own substantially all of Condors LLC.
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| KUE | ||
| Credit Suisse | ||
| k12 | ||
| Condors LLC | ||
| House Oversight Committee |
Timeline (2 events)
Relationships (3)
KUE repaid debt to entities controlled by Michael Milken.
Co-ownership of affiliate holding k12 assets.
Condors LLC, substantially all of which is owned by the Principals
Key Quotes (3)
"The proceeds of the $150 million term loan facility... were used to repay existing debt of KUE to entities controlled by Michael Milken."Source
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Quote #1
"An affiliate of Michael Milken and Lowell Milken owns the k12 trademark... and licenses them to k12 for $25,000 annually pursuant to a perpetual license."Source
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Quote #2
"Condors LLC, substantially all of which is owned by the Principals, is the lender under the Junior Mezzanine Loan entered into in connection with the new CMBS financing."Source
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Quote #3
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