Laureate launches $1.295 billion term B at Libor plus 325-350 bps

By Sara Rosenberg

New York, March 14 - Laureate Education Inc. launched its $1.295 billion seven-year term loan B on Monday with price talk of Libor plus 325 basis points to 350 bps with a 1.25% Libor floor and an original issue discount of 991/2, according to a market source.

The company's $1.595 billion senior secured credit facility also includes a $300 million five-year revolver, the source said.

Citigroup, Barclays, Credit Suisse, Goldman Sachs, J.P. Morgan and KKR Capital Markets are leading the deal.

Proceeds will be used to refinance all of the company's bank debt, including a $280 million term loan priced at Libor plus 500 bps with a 2% Libor floor and a $675 million term loan priced at Libor plus 325 bps.

Laureate is a Baltimore-based provider of higher educational services.

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