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.
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