Glossary

Outstanding Investment is the total amount of an investor's capital still active in ongoing deals. On Kilde, it reflects all funds tied up in current loans that have not yet reached maturity.

Outstanding Principal is the unpaid portion of the original loan amount, excluding interest. It represents the amount still owed by the borrower. On Kilde, it is used to track the status of each investment.

A Participation Agreement (PA) is a contract that allows an investor to participate in a portion of a loan or financial product. On Kilde, it formalises investor rights in syndicated or fractional deals.

Participation Interest refers to the portion of an investment that an investor holds in a syndicated or shared loan. On Kilde, this reflects the pro-rata claim to returns in a deal.

Payment-in-kind (PIK) refers to interest paid not in cash but as additional securities or principal. Some private credit deals offer PIK interest, which compounds until maturity. Some Kilde deals feature this type of interest.

Personal assets include everything an individual owns of value—such as property, cash savings, investment portfolios, and other financial holdings. In Singapore, the value of personal assets is an important factor in determining Accredited Investor status under the Securities and Futures Act (SFA). Kilde uses this information to assess investor eligibility and ensure compliance with regulatory standards.

A pledge of loan portfolio is when a borrower offers its portfolio of loans as collateral for financing. This enhances investor protection in case of default. Kilde often works with issuers who offer such structures as security.

A portfolio is a collection of financial investments held by an individual or institution. On Kilde, a portfolio includes multiple private credit deals, allowing investors to diversify and manage risk.

Portfolio allocation is the strategy of distributing investments across different asset classes or risk profiles in broad categories, setting a strategic blueprint for investors' approach. A related concept, portfolio diversification, focuses on spreading investments within these categories, to reduce exposure to any single investment risk and enhance overall portfolio resilience.

A pricing supplement is a legal document that provides specific terms of a debt offering, such as interest rate and maturity. On Kilde it must be read together with the Base Prospectus (or Information Memorandum), which provides the general terms and risk disclosures.

Principal returned is the amount of original capital that has been paid back to investors. On Kilde, it’s tracked deal-by-deal in order to monitor repayment progress.

Private bonds are fixed-income instruments issued by companies directly to selected investors rather than through public markets. These typically offer higher returns to compensate for lower liquidity. On Kilde, some deals are structured as private bonds secured by underlying assets.

Private credit refers to debt financing provided by investors directly to borrowers, structured outside public markets. It includes loans to small and medium-sized enterprise (SMEs) lending firms, fintech lenders, and consumer finance companies. Kilde enables investors to participate in private credit deals for potentially higher yields.

Private placement is the sale of securities to a limited group of investors, rather than through a public offering. It is typically used for fundraising by companies seeking capital without regulatory overheads. Kilde offers private placements in the form of curated private credit investments.

A Private Placement Memorandum (PPM) is a document that provides in-depth legal and financial details of a private investment offering. On Kilde, it helps investors understand the risks, terms and structures of a deal.

Purchase Order Financing is a type of funding where a business receives capital based on a confirmed order from a customer. Some Kilde deals may involve portfolios which include this financing method.

Rating is the classification of investment opportunities based on their risk profile and expected return. Kilde assigns internal ratings to deals using credit assessments and financial models to help investors evaluate potential risks.

Learn more about Kilde’s Credit Rating Methodology.

The Recovery Rate is the percentage of defaulted loan value that is ultimately recovered. On Kilde, this metric helps assess the effectiveness of collateral and risk mitigation.

Reinvestment is the act of using returns or principal repayments from past investments to fund new deals. On Kilde, investors may choose to reinvest monthly coupons or matured capital into new opportunities in order to compound returns.

A repayment schedule outlines when and how a borrower will repay the principal and interest on a loan. On Kilde, this is detailed in each deal’s information memorandum and includes coupon payment dates and maturity.

Return on Investment (ROI) is a performance metric that shows the gain or loss from an investment relative to its cost. On Kilde, ROI helps investors evaluate how profitable each deal was.

A revolving loan is a type of credit that allows borrowers to draw, repay, and redraw funds up to a limit. Kilde generally offers fixed-term deals, but may feature revolving structures in certain cases.

A rollover loan is extended or renewed at the end of its term. On Kilde, this may happen if a borrower needs continued funding and both platform and investors agree to reissue funding.

A secured investment is backed by collateral that can be liquidated in the event of borrower default. On Kilde, many private credit deals are secured by loan portfolios or receivables to reduce investor risk.

Securitisation is the process of pooling financial assets (like loans) and converting them into tradable securities. On Kilde, securitized notes may be issued through SPVs to deliver exposure to underlying loan portfolios.

A segregated escrow account is a separate account used to hold investor funds independently of the platform’s own finances. On Kilde, each deal’s funds are held in such accounts to protect investors and ensure proper disbursement.

A senior secured loan is a debt instrument that has first claim on a borrower’s assets in case of liquidation. These loans offer greater protection than unsecured or subordinated debt. Many Kilde deals are structured as senior secured loans.

A senior secured loan is a debt instrument that has first claim on a borrower’s assets in case of liquidation. These loans offer greater protection than unsecured or subordinated debt. Many Kilde deals are structured as senior secured loans.

A short-term investment is one with a maturity of less than 12 months. These investments are preferred for liquidity and lower duration risk. Kilde offers several short-term private credit deals suitable for such investment strategies.

SingPass is Singapore’s secure national digital identity system, allowing residents to access government and approved private sector services safely online.

At Kilde, SingPass is used during onboarding to verify investor identity securely and efficiently, ensuring compliance with regulatory requirements while protecting user data.

Singapore Overnight Rate Average (SORA) is the benchmark interest rate for the Singapore dollar, based on overnight unsecured interbank borrowing. It is increasingly used in pricing loans and bonds. Kilde may reference SORA when comparing deal yields.

Singapore Savings Bonds (SSBs) are government-backed savings instruments available to retail investors in Singapore. They offer low-risk, flexible interest payments. SSBs are not part of Kilde’s offering, which focuses on higher-yield private credit.

Small and medium-sized (SME) lending firms are non-bank entities that provide loans to small and medium-sized enterprises. These firms are common borrowers or originators in private credit deals. Kilde partners with such firms to offer investors access to SME loan portfolios.

A Special Purpose Vehicle (SPV) is a separate legal entity created to isolate financial risk. In private credit, SPVs are often used to issue debt or hold loan assets. Kilde uses SPVs to structure and manage investment deals securely.

Subordinated debt ranks below other debt in the case of default, meaning it is repaid after senior obligations. It typically offers higher returns due to increased risk.

At Kilde, some investment deals may include this kind of debt as part of a layered structure, giving investors different options based on their risk appetite and return expectations.

A tax resident is an individual or entity recognized by a country’s tax authority as subject to taxation globally. Kilde collects this status during onboarding in order to discharge it's responsibilites re withholding taxes.

A tax treaty is an agreement between two countries that defines how taxes are applied across borders. These treaties help reduce double taxation for investors. Kilde informs users when treaty benefits may apply to returns.

A term loan is a fixed amount of capital repaid over a predetermined schedule. On Kilde, most private credit offerings are structured as term loans with monthly coupon payments.

Total Funded refers to the cumulative amount of capital that has been invested across all deals on a platform. On Kilde, this includes all completed and active investments made by users since inception.

Total Issued refers to the total value of investment opportunities (e.g. notes or debentures) offered to investors. It reflects the deal volume created on a platform like Kilde, whether fully funded or not.

Total Outstanding Amount refers to the total principal that remains unpaid across all active deals. On Kilde, this is used to show how much capital is still deployed and earning returns.

Total Revenue is the total income generated by a platform or investment product. For Kilde, this includes interest earned and platform fees from all deals.

A tranche is a portion of an investment offering that has specific terms, such as interest rate or seniority. Kilde may offer deals in tranches to let investors choose based on risk appetite.

A trust company is a legal entity that manages assets on behalf of clients, for example an escrow agent or trustee. Kilde works with licensed trust companies for managing investor funds and deal proceeds.

Vintage refers to the year or period when a loan or portfolio was originated. It’s used to compare performance across different market conditions. Kilde may group deals by vintage in reports.

Withholding tax (WHT) is a tax deducted at the source of income, such as from interest or dividends paid to investors. On Kilde, WHT may apply depending on investor residency and deal structure. Double Taxation Avoidance Agreements (DTAAs) may reduce this amount.

Working capital is the difference between a company’s current assets and liabilities, reflecting its short-term liquidity. Borrowers on Kilde often raise private credit to finance working capital needs.

Yield refers to the income earned from an investment, typically expressed as a percentage of the invested amount. Kilde uses yield to show the expected annual return of private credit deals.