secwatch.observer — SEC 8-K summary
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Issuer:     LAUREATE EDUCATION, INC. (LAUR)
CIK:        0000912766
Form:       8-K
Filed at:   2023-09-20T23:59:59+00:00
Accession:  0001628280-23-032646
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Laureate Education adds $155M Series 2028 revolving tranche, total facility $300M
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- Added $155M Series 2028 Tranche; total revolver $300M ($145M maturing Oct 2024).
- Facility matures Sept 18, 2028; interest rate at EURIBOR/Term SOFR/ABR plus margin of 1.75%-2.50% (SOFR/EURIBOR) based on leverage.
- Financial covenant: Consolidated Senior Secured Debt/EBITDA ≤ 3.00x; suspended if <25% facility drawn.
- Obligations guaranteed by subsidiary Exeter Street Holdings LLC; secured by first-priority lien on substantially all assets.
- COO Marcelo Cardoso's consultant agreement amended to eliminate a future severance reduction from Brazil business sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912766/000162828023032646/0001628280-23-032646-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912766/000162828023032646/laur-20230920.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-032646

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