Ellucian plans to sell $590 million bonds to fund buyout by TPG and Leonard Green

By Paul A. Harris and Sara Rosenberg

Portland, Ore., Sept. 9 – Ellucian plans to sell $590 million of bonds as part of the financing supporting the buyout of the company by TPG Capital and Leonard Green Partners from Hellman & Friedman and JMI Equity, according to a market source.

The buyout financing also includes a $1.61 billion credit facility that is scheduled to launch Thursday, led by Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc., J.P. Morgan Securities LLC, Barclays, Jefferies Finance LLC, BMO Capital Markets and Deutsche Bank Securities Inc.

Ellucian is a Fairfax, Va.-based provider of higher education software and services.

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