KinderCare repays $608M term loan with IPO proceeds, reprices remaining $966.8M debt to lower margins

KinderCare Learning Companies, Inc.

Repaid approx $608M of first lien term loans using IPO net proceeds on October 30, 2024.
Entered Repricing Amendment decreasing margin on $966.8M term loan to 3.25% (SOFR) from prior rates.
Reduced margin on $240M revolving credit facility to 2.75%-3.25% (SOFR) based on first lien net leverage ratio.
Letter of credit fees also reduced to 2.75%-3.25% per annum depending on leverage ratio.
Soft call protection reset for 6 months for certain repricing transactions on term loan facility.

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