KIK Custom Gets Rescue Loan From New Lenders Including Oaktree

KIK Custom Products Inc. received a $150 million rescue loan from new lenders, including Oaktree Capital Management to help the cleaning-products company bridge a potential liquidity shortfall, according to people familiar with the situation.

The broader group of existing creditors was informed Monday that the company received a third-party loan, said the people who asked not to be identified discussing a private matter.

The loan was raised at a newly created subsidiary and secured by German assets, they said. The addition of financing from new lenders tends to reduce the value of a company’s existing debt, as the fresh funding ...