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WorldStrides to launch $460 million in term loans on Nov. 28
By Sara Rosenberg
New York, Nov. 21 – WorldStrides will hold a bank meeting at 10 a.m. ET in New York on Nov. 28 to launch $460 million in senior secured term loans, according to a market source.
Goldman Sachs Bank USA and BNP Paribas Securities Corp. are the leads on the deal.
The debt consists of a $425 million term loan B and a $35 million delayed-draw term loan B, the source said.
Proceeds will be used to help fund a strategic investment from Eurazeo and Primavera Capital Group.
Closing is expected by year end.
WorldStrides is a Charlottesville, Va.-based educational student travel and study abroad organization.
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