Knowledge Universe seeks $342 million facility at Libor plus 500 bps

By Sara Rosenberg

New York, June 28 - Knowledge Universe is in market with a $342 million credit facility that is talked at Libor plus 500 basis points with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The facility consists of a $75 million revolver and a $267 million term loan B, the source said.

The B loan has 101 soft call protection for one year.

BNP Paribas Securities Corp. and Bank of America Merrill Lynch are the lead banks on the deal that launched with a bank meeting on Thursday.

Proceeds will be used to refinance an existing revolver and subordinated notes.

Knowledge Universe is a Singapore-based education company.

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