Market Chatter: KKR Pursues $500 Million Loan for XCL Education Stake Purchase

MT Newswires Live03-06 18:17

KKR & Co (KKR) is looking to secure a $500 million loan to support its purchase of a controlling interest in academic provider XCL Education, Bloomberg News reported Friday, citing people familiar with the matter.

The planned five-year debt facility has an interest margin of 300 basis points above the Secured Overnight Financing Rate, the news outlet reported, citing the people.

Financial institutions spearheading the funding arrangement reportedly include HSBC (HSBC) and ING Bank (ING), among others.

KKR surpassed competing offers for the transaction, valuing the Southeast Asian learning network at roughly $1.3 billion, Bloomberg News reported.

KKR, XCL Education, HSBC, and ING Bank did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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