TSL Education starts roadshow for £300 million six-year secured notes

By Paul A. Harris

Portland, Ore., July 7 – TES Finance plc, the parent of TSL Education Group Ltd., began a roadshow on Monday for a £300 million two-part offering of six-year senior secured notes (B2/B/) according to a market source.

The deal is expected to price during the middle part of the present week.

The offering is coming in tranches of fixed-rate notes, non-callable for two years, and floating-rate notes, non-callable for one year.

Goldman Sachs International is the left bookrunner.

The London-based education services provider plans to use the proceeds to refinance debt, to fund repayment of shareholder loans and to finance the acquisition of Vision for Education Ltd.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.