KKR’s Circor Looks to Exit Private Credit With Leveraged Loan

Jefferies Financial Group Inc. is gauging investors’ interest in a deal for aerospace vendor Circor International, Inc. to refinance a direct loan and slash costs in the process, according to people with knowledge of the matter.

The $650 million term loan will be used to pay off an existing unitranche deal that direct lenders provided when KKR & Co. bought Circor last year, said the people, who asked not to be identified as the details are private. About $200 million of the new debt may be used for potential future acquisitions, the people added.

Though pricing discussions are in the ...