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KinderCare to launch $250 million incremental term loan on Thursday
By Sara Rosenberg
New York, March 13 – KinderCare Learning Cos. Inc. (Kuehg Corp.) is scheduled to hold a lender call at 11:30 a.m. ET on Thursday to launch a fungible $250 million incremental first-lien term loan B due June 12, 2030, according to a market source.
Barclays, Macquarie Capital (USA) Inc., Goldman Sachs Bank USA, Deutsche Bank Securities Inc., UBS Investment Bank, Jefferies LLC, KKR Capital Markets and Citizens are the joint lead arrangers on the deal.
Pricing on the incremental term loan is SOFR plus 500 basis points with a 0.5% floor, in line with existing term loan pricing.
The incremental term loan has amortization of 1% per annum.
Proceeds will be used for general corporate purposes, including a potential distribution to shareholders and/or potential mergers and acquisitions, and to pay transaction expenses.
Pro forma for the transaction, the term loan will total $1.572 billion.
KinderCare is a Lake Oswego, Ore.-based provider of private early childhood care and education.
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