KIK Consumer wraps $170 million term B-2 at SOFR plus 600 bps

By Sara Rosenberg

New York, Dec. 21 – KIK Consumer Products (Kronos Acquisition Holdings Inc.) allocated a non-fungible $170 million term loan B-2 due Dec. 22, 2026 (B2/B-) that is priced at SOFR+CSA plus 600 basis points with a 1% floor and an original issue discount of 98, according to a market source.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The term loan B-2 has hard call protection of 102 in year one and 101 in year two, the source said.

Barclays is the administrative agent on the deal.

Proceeds will be used to add cash to the balance sheet and fund the expansion of a manufacturing facility.

Allocations went out on Monday.

Closing is expected this week.

KIK is a manufacturer and distributor of household cleaning, pool sanitation and automotive performance chemicals.

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