K12 plans to fully repay loan with proceeds of convertibles

By Wendy Van Sickle

Columbus, Ohio, Aug. 25 – K12 Inc. plans to fully repay the outstanding balance under its credit facility with some proceeds of a $300 million offering of seven-year convertible senior notes, according to a news release.

Proceeds may also be used for general corporate purposes and to fund some capped call transactions that are expected to be entered into in connection with the pricing of the convertibles.

K12 is a for-profit education company that sells online schooling and curricula. It is based in Herndon, Va.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.