Kenan Advantage launches amended and restated credit facility

By Sara Rosenberg

New York, Nov. 19 - Kenan Advantage Group held a call on Tuesday to launch an amended and restated credit facility, according to a market source.

KeyBanc Capital Markets is leading the deal.

Proceeds will be used to help fund the already completed acquisition of RTL-Westcan Group, an Edmonton, Alta.-based hauler of bulk commodities in western and northern Canada.

The acquisition was funded with interim borrowings under Kenan's senior secured credit facility, but the company is refinancing a portion of that debt with U.S. and Canadian dollar term loans and unsecured high-yield notes, a news release said.

Kenan is a North Canton, Ohio-based tank truck transporter and logistics provider.

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