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SkillSoft talks $90 million incremental loan at Libor plus 475 bps
By Sara Rosenberg
New York, Oct. 17 - Skillsoft Ltd. is talking its $90 million incremental senior secured term loan (Ba3/BB-) at Libor plus 475 basis points with a 1.75% Libor floor, which is in line with current term loan pricing, according to a market source.
The original issue discount on the loan is still to be determined.
Morgan Stanley Senior Funding, Inc. and Barclays Capital Inc. are the lead banks on the deal that will launch with a call on Tuesday.
Proceeds will be used to help fund the acquisition of the Element K business from NIIT Ltd. for $110 million in cash.
SkillSoft is a Nashua, N.H.-based provider of on-demand e-learning and performance support services for global enterprises, government, education and small- to medium-sized businesses.
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