KITO Crosby to launch $205 million incremental term loan on Monday

By Sara Rosenberg

New York, Oct. 19 – KITO Crosby (Crosby US Acquisition Corp.) is scheduled to hold a lender call at 10 a.m. ET on Monday to launch a fungible $205 million incremental first-lien term loan due June 27, 2026, according to a market source.

UBS Investment Bank and KKR Capital Markets are the arrangers on the deal.

Pricing on the term loan is SOFR plus 500 basis points with a 0.5% floor.

Proceeds will be used to repay second-lien term loan borrowings.

Pro forma for the transaction, the first-lien term loan will total $533.35 million.

KITO Crosby is a manufacturer and marketer of highly engineered equipment and solutions used in lifting, rigging, and custom material handling solutions.

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