KinderCare Learning Companies, Inc. has reported that on October 30, 2024, its wholly owned subsidiary, KUEHG Corp., has repaid a portion of its outstanding first lien term loans totaling about $608 million, which includes accrued interest and other associated costs. This repayment was financed through the net proceeds from the company's initial public offering. Simultaneously, KUEHG Corp. entered into a Repricing Amendment with various involved parties to revise the pricing of the remaining term loan of approximately $966.8 million and a $240 million revolving credit facility. The revision includes reduced interest margins and fees, as well as resetting the soft call protection period for six months following the effective date of the amendment. Further details of the Repricing Amendment will be available in the company's upcoming quarterly report.
Names mentioned: - KinderCare Learning Companies, Inc. - KUEHG Corp. - Barclays Bank PLC - Anthony Amandi (Chief Financial Officer)