Knowledge Learning launches $260 million loan Wednesday

By Sara Rosenberg

New York, March 5 - Knowledge Learning Corp. launched a new $260 million credit facility (Ba3) on Wednesday, according to market sources. BNP Paribas is the lead bank on the deal.

The loan consists of a $235 million seven-year term loan B with price talk of Libor plus 375 basis points and a $25 million five-year revolver, according to market sources.

Proceeds will be used to help fund the acquisition of Aramark Educational Resources from Aramark Corp. for $225 million in cash and a $40 million principal amount seller note.

Knowledge Learning is a San Rafael, Calif. provider of childcare services.

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