KinderCare firms $884 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, April 21 – KinderCare (Kuehg Corp.) set pricing on its $884 million first-lien term loan (B1/B) due Aug. 13, 2022 at Libor plus 375 basis points, the high end of the Libor plus 350 bps to 375 bps talk, according to a market source.

The term loan still has a 1% Libor floor, a par issue price and 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC is the left lead on the deal.

Proceeds will be used to reprice an existing term loan from Libor plus 425 bps with a 1% Libor floor.

KinderCare, formerly known as Knowledge Universe, is a Portland, Ore.-based provider of early childhood care and education services.

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