Cambium Learning to launch $158 million credit facility Monday

By Sara Rosenberg

New York, March 8 - Cambium Learning Inc. is scheduled to hold a bank meeting on Monday to launch its proposed $158 million credit facility, according to a syndicate document.

Credit Suisse and Barclays are the joint lead arrangers on the deal.

The facility consists of a $30 million six-year revolver with a 50 basis point commitment fee and a $128 million six-year term loan B, the document said.

Proceeds will be used to help fund Veronis Suhler Stevenson's leveraged buyout of the company from J.H. Whitney & Co.

Cambium is a Natick, Mass., education company that provides intervention services for literacy and mathematics.

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