Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for Kuehg Corp. > News item |
KinderCare launches $1.58 billion term loan B at SOFR plus 450 bps
By Sara Rosenberg
New York, April 15 – KinderCare Learning Cos. Inc. (Kuehg Corp.) was scheduled to hold a lender call at 3 p.m. ET on Monday to launch a $1.583 billion term loan B due June 12, 2030 (B2/B/BB) that is talked at SOFR plus 450 basis points with a 0.5% floor, an original issue discount of 99.75 to par for net new money and a par issue price for existing money, according to a market source.
The term loan has 101 soft call protection for six months and amortization of 1% per annum.
Barclays is the left lead and agent on the deal.
Commitments are due at 5 p.m. ET on Thursday, the source added.
Proceeds will be used to reprice an existing term loan B down from SOFR plus 500 bps with a 0.5% floor.
KinderCare is a Lake Oswego, Ore.-based provider of private early childhood care and education.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.