New Issue-Cambium Learning sells $175 mln in 6-yr sr notes

Mon Feb 14, 2011 6:04pm EST

  Feb 14 (Reuters) - Cambium Learning Group Inc (ABCD.O) on Monday sold $175 million of senior secured notes in the 144a private placement market, said IFR, a
Thomson Reuters service.
  Barclays and BMO Capital were the joint bookrunning managers for the sale.
BORROWER: CAMBIUM LEARNING GROUP INC
AMT $175 MLN      COUPON 9.75 PCT     MATURITY 2/15/2017 
TYPE SR NTS       ISS PRICE 99.442    FIRST PAY 8/15/2011
MOODY'S B2        YIELD 9.875 PCT     SETTLEMENT 2/17/2011
S&P SINGLE-B      SPREAD 753 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    NON-CALLABLE 3 YRS*
*MAKE-WHOLE CALL 50 BPS                                  
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