Global Knowledge to launch $245 million credit facility on Tuesday

By Sara Rosenberg

New York, Jan. 5 – Global Knowledge Training LLC is scheduled to hold a bank meeting at 12:30 p.m. ET in New York on Tuesday to launch a $245 million credit facility, according to a market source.

Credit Suisse Securities (USA) LLC, Macquarie Capital and ING are the leads on the deal.

The facility consists of a $20 million revolver, a $175 million six-year first-lien covenant-light term loan and a $50 million seven-year second-lien covenant-light term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Rhone Capital LLC from MidOcean Partners.

Commitments are due on Jan. 16, the source added.

Global Knowledge is a Cary, N.C.-based provider of IT and business skills training.

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