World Kitchen firms $62 million add-on term loan at Libor plus 425 bps

By Sara Rosenberg

New York, Nov. 18 - World Kitchen LLC finalized pricing on its $62 million add-on term loan at Libor plus 425 basis points, the low end of the Libor plus 425 bps to 450 bps talk, according to a market source.

Also, the original issue discount was revised to 99½ from 99, the source said.

As before, the add-on loan has a 1.25% Libor floor.

BMO Capital Markets Corp. is leading the deal.

Proceeds will be used to fund a dividend and add cash to the balance sheet.

World Kitchen is a Rosemont, Ill.-based manufacturer and marketer of bakeware, dinnerware, kitchen and household tools, rangetop cookware and cutlery products.

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