Global University talks €230 million add-on term loan at 99-99.5 OID

By Sara Rosenberg

New York, May 21 – Global University Systems (Markermeer Finance BV) launched on Tuesday its €230 million add-on term loan B due December 2024 with original issue discount talk of 99 to 99.5, according to a market source.

Pricing on the add-on term loan B is Euribor plus 425 basis points with a 0% floor.

Goldman Sachs and HSBC are the physical bookrunners on the deal. Other bookrunners include Barclays and Macquarie. Wilmington Trust is the agent.

Proceeds will be used to fund the acquisition of Sapphire, two academic institutions in India, and support future bolt-on acquisitions.

Global University Systems is an Amsterdam-based private higher education provider.

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