Skillsoft enters forbearance with lenders of three credit agreements

By Wendy Van Sickle

Columbus, Ohio, May 1 – Skillsoft Ltd. entered into forbearance agreements with lenders under its first-lien, second-lien and asset-based revolving credit agreements, according to a Friday news release.

The lenders have agreed to forbear from exercising remedies available to them under their respective credit agreements as they continue to have discussions with the company.

In the case of the first-lien and second-lien credit agreements, the forbearance period will expire on May 31. For the revolver, it will expire on June 15.

Skillsoft said it is in ongoing discussions and “making meaningful progress” with the lenders regarding efforts to strengthen its capital structure, enhance its ability to invest in new products, solutions and content that drive additional value for customers, and support the company over the long term.

Skillsoft is a Boston-based provider of cloud-based learning services.

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