KIK Custom Products sets roadshow for $390 million eight-year notes backing Centerbridge buyout

By Paul A. Harris

Portland, Ore., Aug. 6 – KIK Custom Products Inc. plans to start a roadshow on Monday in New York City for its $390 million offering of eight-year senior notes (Caa2), according to an informed source.

Subsequent roadshow stops include Boston on Tuesday, Los Angeles on Wednesday and San Francisco, the Midwestern United States and Canada on Thursday, following which the Rule 144A and Regulation S deal is scheduled to price.

An investor conference call is scheduled to get underway at 12:30 p.m. ET on Monday.

Joint bookrunner Barclays will bill and deliver. BMO Securities, Nomura and Macquarie Capital are also joint bookrunners.

The notes become callable after three years at par plus 75% of the coupon and feature a three-year 40% equity clawback and a 101% poison put.

The issuing entity is special purpose vehicle Kronos Acquisition Holdings Inc.

Proceeds will be used to help fund the buyout of KIK Custom Products by Centerbridge Partners LP from CI Capital Partners.

KIK Custom Holdings is a Toronto-based supplier of pool and spa treatment products and household and personal care products.

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