Adtalem readies launch of $300 million term loan B for Monday

By Sara Rosenberg

New York, March 23 – Adtalem Global Education Inc. is scheduled to hold a bank meeting at 1:30 p.m. ET in New York on Monday to launch a $300 million seven-year covenant-light term loan B, according to a market source.

Bank of America Merrill Lynch, BMO Capital Markets and Northern Trust are the lead arrangers on the deal.

Proceeds will be used to refinance existing revolving credit facility borrowings and fund cash to the balance sheet for general corporate purposes, the source said.

Adtalem is a Chicago-based provider of educational services with a focus on Medical & Healthcare, Professional Education, and Technology & Business.

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