KKR Leads $2.8 Billion Private Loan for Safe Fleet Buyout

A group of private credit lenders led by KKR & Co. provided a $2.775 billion loan to help finance Clarience Technologies’ acquisition of Safe Fleet, according to people with knowledge of the matter.

The seven-year unitranche facility, which blends senior and junior debt, will pay interest at 5.75 percentage points over the Secured Overnight Financing Rate and wrapped up at a discounted price of 98 cents on the dollar, the people said, asking not to be named discussing a private transaction.

Clarience Technologies, which creates vehicle safety equipment like lighting and signals, announced on Thursday the completion of ...