Prometric gets $175 million loan to refinance, grow

Baltimore testing company refinances debt, seeks money for new initiatives

April 12, 2012|By Gus G. Sentementes, The Baltimore Sun

Prometric, a Baltimore-based provider of educational testing services, said Thursday it secured a $175 million loan to refinance the remaining debt of when it was purchased five years ago by Educational Testing Services Inc. for $435 million.

The loan arrangement is in two parts: a five-year, $165 million loan arranged by TD Securities, and a $10 million revolving line of credit funded by nine banks. Prometric will also use some of the funds as working capital for company initiatives.

The company, once a part of the former Sylvan Learning Systems, conducts testing, licensing and certification exams for 400 commercial, government and non-profit clients.

Gus.sentementes@baltsun.com

Twitter.com/gussent

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