Knowledge Learning's $260 million 10-year notes talked 7¾%-8%, to price Friday

By Paul A. Harris

St. Louis, Jan. 27 - Knowledge Learning Corp.'s $260 million offering of 10-year senior subordinated notes (B-) is talked to yield 7¾% to 8%, according to a syndicate source.

Pricing is expected on Friday.

The notes will be non-callable for five years.

Credit Suisse First Boston, UBS Investment Bank and BNP Paribas are joint bookrunners for the Rule 144A offering. Guggenheim Capital Markets is the co-manager.

The company is also obtaining a $640 million credit facility and $200 million of equity from sponsors.

Proceeds will be used to purchase KinderCare Learning Centers Inc. for $550 million and to repay existing debt at both companies.

Knowledge Learning is a provider of early childhood educational programs and services. The company has announced it will be moving its corporate headquarters to Portland, Ore., from Golden, Colo.

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