kdc/one sets price talk on $991.7 million equivalent term loan

By Sara Rosenberg

New York, July 25 – kdc/one released price talk on its $991.7 million equivalent U.S. and euro five-year first-lien term loan (B3/B-/B) in connection with its lender call on Tuesday, according to a market source.

Talk on the U.S. term loan is SOFR plus 500 basis points with a 0% floor and an original issue discount of 96 to 97, and talk on the euro term loan is Euribor plus 525 bps with a 0% floor and a discount of 96 to 97, the source said.

The term loan debt has 101 soft call protection for six months.

UBS Investment Bank, Morgan Stanley Senior Funding Inc., BMO Capital Markets, JPMorgan Chase Bank, Goldman Sachs Bank USA, Deutsche Bank Securities Inc., Citizens, Natixis, RBC Capital Markets and KKR Capital Markets are the arrangers on the deal.

Commitments are due at 5 p.m. ET on Aug. 2.

Proceeds will be used with other senior secured debt to refinance the company’s existing first-lien credit facilities.

KDC US Holdings Inc. is the U.S. borrower, and kdc/one Development Corp. Inc. is the Canadian borrower.

kdc/one is a Longueuil, Quebec-based provider of value-added solutions to brands in the home care and beauty and personal care categories.

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