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Firm News

Cahill Represents Financing Sources in Chapter 11 Bankruptcy Exit Financing for Cengage

Date: 04/01/14

Cahill represented Credit Suisse as administrative agent and lead arranger and Citi, Morgan Stanley, Deutsche Bank, and KKR Capital Markets as arrangers in the $1,750,000,000 Term B loan for Cengage Learning Acquisitions, Inc., a provider of print and technology-based teaching, learning, and research solutions for academic, professional, and library markets worldwide. Proceeds from the loan were used in connection with Cengage’s emergence from Chapter 11 bankruptcy.

Cahill also represented Citi as administrative agent and collateral agent, and Citi, Morgan Stanley, Deutsche Bank, Credit Suisse and KKR Capital Markets as lead arrangers, in the $250,000,000 asset-based revolving credit agreement for Cengage Learning Acquisitions, Inc.