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.

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