Renaissance Learning to launch $493 million of term loans on Friday

By Sara Rosenberg

New York, Feb. 19 – Renaissance Learning (Renaissance Holding Corp.) will hold a lender call at 10 a.m. ET on Friday to launch $493 million of term loans, according to a market source.

Barclays, Jefferies LLC, Nomura Securities, Macquarie Capital (USA) Inc., BMO Capital Markets and Madison are the bookrunners on the deal.

The debt consists of a $358 million incremental first-lien term loan and a $135 million incremental second-lien term loan, the source said.

Proceeds will be used to fund the acquisition of Nearpod.

Renaissance Learning is a Wisconsin Rapids, Wis.-based provider of software solutions for assessment, teaching and learning to K-12 schools and districts.

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