KIK Custom launches $804.4 million term loan B at Libor plus 400 bps

By Sara Rosenberg

New York, Feb. 21 – KIK Custom Products Inc. launched on Wednesday its $804.4 million term loan B due May 15, 2023 with price talk of Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99.75, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Barclays, BMO Capital Markets, Nomura, Macquarie Capital (USA) Inc. and SunTrust Robinson Humphrey Inc. are the bookrunners on the deal.

Commitments are due at noon ET on Tuesday, the source added.

Proceeds will be used to reprice an existing term loan B and extend the maturity by about nine months.

KIK is a Concord, Ont.-based manufacturer of consumer products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.