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Legal News

Cahill Represents Financing Sources in Debt Financing for Cengage Learning

Date: 06/07/16

Cahill represented the joint book-running managers in connection with the Rule 144A offering of $620,000,000 aggregate principal amount of 9.500% Senior Notes due 2024 by Cengage Learning, Inc., a leading global provider of high-quality content and innovative digital learning solutions for the global academic, skills, school and research markets. Proceeds from the offering were used to refinance existing indebtedness and to fund a distribution to Cengage Learning Holdings II, an indirect parent of Cengage Learning, Inc.

Cahill also represented the administrative agents, lead arrangers and other arrangers in connection with the amended and restated $1,710,000,000 Term B loan and the amended and restated $250,000,000 asset-based revolving credit agreement for Cengage Learning, Inc. Proceeds were used to refinance existing indebtedness, to pay a dividend, and for general corporate purposes.