KIK Custom to launch $200 million add-on term loan B on Tuesday

By Sara Rosenberg

New York, May 8 – KIK Custom Products Inc. is scheduled to hold a call at 11 a.m. ET on Tuesday to launch a $200 million add-on senior secured first-lien term loan B due Aug. 26, 2022, according to a market source.

Barclays, BMO Capital Markets, Nomura, Macquarie Capital (USA) Inc. and SunTrust Robinson Humphrey Inc. are the bookrunners on the deal.

Pricing on the add-on term loan is Libor plus 450 basis points with a 1% Libor floor, in line with existing term loan pricing, the source said.

Original issue discount talk on the add-on loan is still to be determined.

Proceeds will be used for general corporate purposes, to fund an ABL repayment and to finance a $90 million acquisition.

KIK is an Ontario-based manufacturer of consumer products.

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