SkillSoft to launch $1.49 billion credit facility on Thursday

By Sara Rosenberg

New York, April 1 - SkillSoft Ltd. set a bank meeting for 1 p.m. ET on Thursday to launch a $1,485,000,000 senior secured credit facility, according to a market source.

Barclays, Deutsche Bank Securities Inc. and Morgan Stanley Senior Funding Inc. are the bookrunners on the deal.

The facility consists of a $100 million five-year revolver, a $900 million seven-year first-lien term loan and a $485 million eight-year second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Charterhouse Capital Partners LLP from Berkshire Partners, Advent International and Bain Capital and to refinance existing debt.

Closing is subject to conditions, including the expiration of the applicable waiting period under the Hart-Scott-Rodino Act.

SkillSoft is a Dublin, Ireland-based provider of cloud-based learning solutions.

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