Centerbridge-Backed KIK Bonds Plunge as Company Seeks Liquidity

Centerbridge-backed KIK Custom Products Inc.’s bonds dropped after the cleaning products maker informed investors that it was evaluating potential liquidity and capital options, according to people familiar with the matter.

• The closely held company made the comments to investors as part of the release of second-quarter results that showed a year-over-year revenue decline in the latest three-month period, said the people, who asked not to be identified discussing private results
• Its 10.75% unsecured bond due 2032 fell as much as 10.5 cents to a record low of 48.5 cents on the dollar as of Wednesday afternoon, according to ...