Laureate repays $340 million of term loan, $6.4 million of revolver

By Wendy Van Sickle

Columbus, Ohio, Feb. 5 – Laureate Education Inc. used $340 million of proceeds of an asset sale to repay a portion of its U.S. term loan and the remaining $6.4 million in proceeds to repay borrowings outstanding under its revolving credit agreement, according to a news release.

Specifically, the proceeds were from the sale of the University of St. Augustine for Health Sciences to Altas Partners for a total transaction value of $400 million.

Laureate received net proceeds of $346.4 million, including $11.7 million of closing adjustments, net of $58.1 million of debt assumed by the buyer and fees of $7.2 million.

Laureate is a Baltimore-based network of degree-granting higher education institutions.

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