Laureate to use $908 million from asset sale to repay 2024 term loan

By Rebecca Melvin

New York, June 3 – Laureate Education Inc. will use proceeds of about $908 million from the sale of assets to repay the remaining balance under its 2024 term loan, according to a company news release.

The proceeds resulted from a previously announced sale of Laureate’s institutions in Spain and Portugal.

“We continue to make strong progress on the simplification of our portfolio. Of the $1.5 billion in asset sales proceeds expected in 2019, we have already collected $1.3 billion year-to-date, allowing us to significantly reduce our debt levels and improve our financial profile,” chief executive officer Eilif Search-Hanssen said in the release.

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

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