Laureate announces plans to pay down loan debt with notes proceeds

By Sara Rosenberg

New York, Oct. 26 - Laureate Education Inc. plans to repay 2014 bank debt using proceeds from an add-on $1.05 billion 9¼% senior notes offering, according to a market source.

Remaining funds from the notes, which have been upsized from an original amount of $350 million, will be used to retire 10% notes due 2015 and 10¼% notes due 2015.

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

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