S&P gives Kiloutou notes B+

S&P said it assigned B+ issue and 3 recovery ratings (65%) to the planned €250 million of senior secured floating-rate notes to be issued by Kapla Holding SAS (Kiloutou).

The ratings are in line with those on Kiloutou’s outstanding senior unsecured notes.

Kiloutou is expected to use most of the proceeds to repay the €200 million of senior secured floating-rate notes due in 2027, about €45 million to repay the super senior revolving credit facility drawings, and about €5 million to pay estimated fees, costs and expenses linked to the issuance.

The outlook is stable.

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