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Spring Education launches $106 million term loan at 98.75 area OID
By Sara Rosenberg
New York, Feb. 27 – Spring Education Group launched on Wednesday its fungible $106 million incremental first-lien term loan (B2/B-) with original issue discount talk in the 98.75 area, according to a market source.
Macquarie Capital (USA) Inc. is the lead on the deal.
Proceeds will be used to fund the acquisition of schools.
California-based Spring Education, a Primavera Capital Group portfolio company, is a provider of pre-K through 12th grade education.
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