Key leads lead arrangers in $1.9 billion refinancing for Kenan Advantage Group
Client(s) KeyBank National Association
Jones Day represented KeyBank, as administrative and collateral agent, and KeyBanc and the other ten lead arrangers of new credit facilities for The Kenan Advantage Group. The credit facilities totaled approximately $1.9 billion consisting of a $1.64 billion term loan, CA$48 million term loan, and a $220 million revolver. The proceeds of the term loans were used to refinance existing debt and for general corporate purposes.
The Kenan Advantage Group, a portfolio company of OMERS Private Equity and headquartered in North Canton, Ohio, is North America’s largest tank truck transporter and logistics provider, serving a wide range of specialized industries with unmatched reliability and scale. Kenan’s services principally involve the transportation of bulk liquids, gasoline, diesel, jet fuel, agricultural fertilizers and herbicides, chemicals, cryogenic gases and food-grade ingredients. It operates over 200 strategically located terminals across the U.S. and Canada.
