Kenan Advantage to launch $250 million term loan on Monday

By Sara Rosenberg

New York, April 20 – Kenan Advantage Group Inc. is scheduled to hold a lender call at 2 p.m. ET on Monday to launch a non-fungible $250 million incremental first-lien term loan, according to a market source.

KeyBanc Capital Markets LLC is the left lead on the deal.

The term loan has ARRC CSA of 11.448 basis points one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, the source said.

Proceeds will be used with cash on hand to refinance a $300 million second-lien term loan due 2027.

Kenan Advantage is a North Canton, Ohio-based provider of liquid bulk transportation services to the fuels, chemicals, liquid foods and merchant gas markets.

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