Kymera launches $100 million term loan at SOFR plus 600-625 bps

By Sara Rosenberg

New York, Aug. 8 – Kymera International launched on Tuesday a non-fungible $100 million incremental term loan due October 2025 that is talked at SOFR plus 600 basis points to 625 bps with a 0.5% floor and an original issue discount of 95 to 96, according to a market source.

The incremental term loan has amortization of 2.5% per annum and no call protection, the source said.

Goldman Sachs Bank USA and M&T Bank are the lead arrangers on the deal.

Proceeds will be used to pay down borrowings under the company’s ABL facility, put cash on the balance sheet, and pay related fees and expenses.

In connection with the new loan, the company is seeking an amendment to its credit agreement to add J. Crew, Chewy and Serta protections, the source continued.

Commitments and amendment signature pages are due at noon ET on Friday, the source added.

Palladium Equity Partners is the sponsor.

Kymera is a Research Triangle Park, N.C.-based specialty materials manufacturer and service provider, specializing in metal-based powders, custom alloys and coatings across a wide range of end markets.

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