Kenan Advantage to launch $1.73 billion credit facilities on Tuesday

By Sara Rosenberg

New York, Jan. 8 – Kenan Advantage Group Inc. is set to hold an investor call at 1 p.m. ET on Tuesday to launch $1.725 billion of credit facilities, according to a market source.

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

The facilities consist of a $200 million five-year revolver and a $1.525 billion five-year covenant-lite term loan B, the source said.

Included in the revolver is a springing maturity 91 days in advance of the term loan B.

The term loan B has 101 soft call protection for six months and amortization of 1% per annum.

Proceeds will be used to extend existing credit facilities from March 2026 and to pay related fees and expenses.

Kenan Advantage, owned by OMERS, 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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