Kenan Advantage offers $405 million eight-year notes; roadshow Monday

By Paul A. Harris

Portland, Ore., July 17 – Kenan Advantage Group Inc. plans to start a roadshow on Monday in New York for a $405 million offering of eight-year senior notes, according to an informed source.

A New York group lunch is scheduled for Tuesday. A Boston group lunch is scheduled for Wednesday. Conference calls for accounts on the West Coast of the United States, and others, are scheduled for Thursday.

The Rule 144A and Regulation S for life deal is set to price thereafter.

Goldman Sachs & Co. is the left bookrunner. KeyBank Capital Markets is the joint bookrunner.

Mizuho Securities and SMBC Nikko are the co-managers.

The notes come with three years of call protection.

Proceeds, together with sponsor equity and equity from certain members of management, and borrowings under the senior secured credit facilities, will be used to finance the buyout of the company by Omers Private Equity from Goldman Sachs Capital Partners and Centerbridge Partners.

The issuing entity will be special purpose vehicle OPE KAG Finance Sub Inc.

Kenan Advantage is a North Canton, Ohio-based provider of liquid bulk transportation services.

© 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.