Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a Rule 144A/Regulation S offering by Laureate Education, Inc. (“Laureate”) of $800 million aggregate principal amount of 8.25% senior notes due 2025. Simpson Thacher also represented JPMorgan Chase Bank, N.A., in connection with a refinancing of Laureate’s existing senior secured credit facilities to provide a new revolving credit facility of $385 million and a new syndicated term loan of $1.6 billion. Both transactions closed on April 26, 2017.
Laureate is the largest global network of degree-granting higher education institutions, with more than one million students enrolled across 70 institutions in 25 countries on more than 200 campuses. In 1999, Laureate Education made its first investment in higher education and, since that time, it has developed into the leader in global higher education. Laureate offers high-quality undergraduate, graduate and specialized programs in a wide range of disciplines that provide attractive employment prospects.
The Simpson Thacher team for these transactions included Joseph Kaufman, David Azarkh, Matthew Levy and Maya Reeves (Capital Markets); James Cross, Mike Vernace, Leah Nudelman and Samuel Willie (Credit); Aimee Adler, Patricia Adams and Eric Wolf (Executive Compensation and Employee Benefits); Jennifer Nadborny and Amanda Weiss (Public Company Advisory Practice); Jonathan Cantor, George Davis and Deborah Plum (Tax); Jennie Getsin and Andrew Pagliughi (FINRA & Blue Sky); Mike Isby (Environmental); Lori Lesser and Melanie Jolson (Intellectual Property); and Joyce Xu and Lily Chen (Derivatives).