Education Management Corp. is cutting 50 basis points off its $1.185 billion credit facility. The deal, led by Credit Suisse, Goldman Sachs, Merrill Lynch and Bank of America, will cut pricing down to LIBOR plus 2%. The company entered into the credit in May 2006 along with a $250 million revolver (CIN, 5/29). The term loan "B" was trading in the 100.781-100.125 context last Friday.
Education Management TL Reprices