Barbri firms spread on $286 million facility at Libor plus 425 bps

By Sara Rosenberg

New York, July 17 - Barbri finalized pricing on its $286 million credit facility at Libor plus 425 basis points, the wide end of the Libor plus 400 bps to 425 bps talk, according to a market source.

Also, the original issue firmed at 99½ for all commitments, instead of 99½ on new money and 99¾ on rollover, the source said.

The facility still has a 1% Libor floor.

Included in the facility are a $30 million revolver and a $256 million term loan B.

The B loan has 101 soft call protection for six months.

GE Capital Markets is the lead bank on the deal.

Proceeds will be used to refinance existing bank and mezzanine debt.

Barbri is a Dallas-based provider of bar review courses and law student support.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.