Centerbridge-Backed KIK’s Bonds Jump After Upbeat 1Q Earnings

Centerbridge-backed KIK Custom Products Inc.’s bonds gained after it reported first-quarter earnings on Monday that beat median expectations.

• The closely held cleaning products maker posted $313 million in quarterly revenues, down 8.7% from the same period of last year, and $43 million in Ebitda, down 31%, according to people familiar with the matter
  • Both figures beat street expectations, the people said, adding it has $200 million liquidity as of quarter-end
• BioLab, a subsidiary of KIK, publicly announced last week that it will not resume manufacturing at a plant in Conyers, Georgia, which caught fire last year, leading to ...