Kenan Advantage Group launches $125 million add-on term loan

By Sara Rosenberg

New York, March 2 – Kenan Advantage Group Inc. held a lender call at 2 p.m. ET on Thursday to launch a fungible $125 million add-on term loan due July 2022 (B+), according to a market source.

KeyBanc Capital Markets LLC is the lead on the deal.

Pricing on the term loan is Libor plus 300 basis points with a 1% Libor floor, and the add-on is talked with an original issue discount of 99.5, the source said.

Proceeds will be used for general corporate purposes.

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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