Campus and Internet-based college education provider, Laureate Education, is seeking a credit facility worth $1.6 billion, Bloomberg reports. The company is seeking a $1.295 billion seven-year term loan and another five-year $300 million multicurrency revolving line of credit. The Baltimore-based company will use the proceeds from the loan to refinance its existing debt. Citigroup, Barclays Capital, Credit Suisse, Goldman Sachs and JP Morgan Chase are the lead arrangers of the loan.

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