K-Mac Holdings relaunches amendment to move term loan to SOFR

By Sara Rosenberg

New York, May 30 – K-Mac Holdings Corp. relaunched the negative consent amendment to shift its first-lien term loan to SOFR from Libor, this time with CSA of 11.448 basis points one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, according to a market source.

Most recently, the company was offering CSA of 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, and prior to that the company was offering 10 bps CSA.

BMO Capital Markets is the lead on the deal.

The amendment deadline is Monday, the source added.

An amendment to transition the company’s second-lien term loan to SOFR already passed with 10 bps CSA.

K-Mac is a Fort Smith, Ark.-based owner and operator of Taco Bell restaurants.

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