Cambium Learning to repay notes, credit facility with note proceeds

By Angela McDaniels

Tacoma, Wash., Nov. 19 - Cambium Learning Group, Inc. plans to use the proceeds from a $175 million issue of notes to repay in full the outstanding debt under its secured credit facility and senior notes, according to a company news release.

Proceeds will also be used for general corporate purposes.

The new senior secured notes will mature in 2016. The offering is subject to the closing of a new $40 million asset-based revolving credit facility.

Cambium is based in Dallas and provides education solutions.

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