Riverdeep launches $250 million term loan B add-on

By Sara Rosenberg

New York, Jan. 31 - Houghton Mifflin Riverdeep Group plc held a conference call on Wednesday morning to launch its proposed $250 million term loan B add-on, according to a market source.

Credit Suisse and Citigroup are the lead banks on the deal.

The term loan B add-on was launched at Libor plus 275 basis points, in line with existing pricing, the source said.

Proceeds will be used to repay some of the company's bridge financing.

Riverdeep is a Dublin, Ireland, provider of educational products.

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