KinderCare ups term loan to $265 million, changes OID to 99.75

By Sara Rosenberg

New York, March 20 – KinderCare Learning Cos. Inc. (Kuehg Corp.) upsized its fungible incremental first-lien term loan B due June 12, 2030 to $265 million from $250 million and revised the original issue discount to 99.75 from 99, according to a market source.

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.

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.

Commitments were scheduled to be due at 5 p.m. ET on Wednesday, the source added.

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.

KinderCare is a Lake Oswego, Ore.-based provider of private early childhood care and education.

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