SkillSoft $225 million credit facility to launch Tuesday

By Sara Rosenberg

New York, April 12 - SkillSoft plc is scheduled to hold a bank meeting on Tuesday to launch its proposed $225 million credit facility, according to a syndicate document.

Credit Suisse is the lead bank on the deal.

The facility consists of a $25 million five-year revolver talked at Libor plus 225 basis points with a 50 bps commitment fee and a $200 million six-year term loan B talked at Libor plus 225 bps, the document said.

Proceeds will be used to fund the acquisition of NETg from The Thomson Corp. for about $285 million.

SkillSoft is a Nashua, N.H., provider of e-learning and performance support services for global enterprises, government, education and small to medium-sized businesses. NETg is a Scottsdale, Ariz., developer of e-learning courses for information technology, desktop skills and professional development.

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