Imagine Learning launches $922 million term loan at SOFR plus 350 bps

By Sara Rosenberg

New York, Jan. 16 – Imagine Learning (Weld North Education) held a lender call at noon ET on Tuesday to launch a $922 million term loan B (B2/B) due December 2029 that is talked at SOFR plus 350 basis points with a 0.5% floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

RBC Capital Markets is the left lead on the deal.

Commitments are due at noon ET on Jan. 23, the source added.

Proceeds will be used to refinance an existing term loan B due December 2027 that is priced at SOFR plus 375 bps with a 0.5% floor.

Imagine Learning, a portfolio company of Silver Lake Partners and Onex Corp., is an education technology company focused on digital curriculum for grades K-12.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.