Perdoceo Education enters $125M senior secured revolving credit facility with Wintrust Bank

PERDOCEO EDUCATION Corp

New $125M senior secured revolving credit facility replaces prior $50M facility maturing Jan 2022.
Facility matures Sept 8, 2024; allows up to $50M increase in commitments.
No revolving loans drawn at closing; certain letters of credit rolled over from prior facility.
Interest at prime minus 1% (floor 4%); secured by substantially all assets and minimum domestic cash of $156.25M.
Borrower and guarantors must maintain at least $156.25M domestic cash at all times.

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