Kenan Advantage to sell $405 million bonds backing buyout by Omers Private equity

By Paul A. Harris and Sara Rosenberg

Portland, Ore., July 1 – Kenan Advantage Group Inc. plans to sell $405 million of bonds as part of the financing for the leveraged buyout of the company by Omers Private Equity from Goldman Sachs Capital Partners and Centerbridge Partners, according to a market source.

The financing is also expected to include a $1,025,000,000 senior secured credit facility via KeyBanc Capital Markets LLC and Goldman Sachs Bank USA. The facility is expected to launch at a bank meeting during the first half of July.

The buyout is expected to close during the third quarter of 2015.

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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