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Education Management to launch loan amend and extend on Monday
By Sara Rosenberg
New York, Nov. 12 - Education Management Corp. is scheduled to hold a conference call at 2 p.m. ET on Monday to launch an amendment and extension of its credit facility, according to a market source.
The company is looking to extend its revolver by three years to June 2015 and its term loan by three years to June 2016, the source said.
Pricing on the extended debt is not yet available, the source continued.
Lenders are being offered a 10 basis point amendment fee, and commitments/consents are due on Dec. 1.
Barclays, Bank of America, Goldman Sachs and BNP Paribas are leading the deal.
Education Management is a Pittsburgh-based provider of post-secondary education.
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