Ellucian® Announces $590 Million Senior Notes Offering

Published Wednesday, September 16, 2015 - Fairfax, Va.

Ellucian®, a leading global provider of a wide range of software and services to the higher education industry, today announced that Ensemble S Merger Sub, Inc.  (the “Issuer”), an entity controlled by affiliates of TPG Capital, L.P. and Leonard Green & Partners, L.P. (collectively, the “Sponsors”), intends to offer, subject to market and other conditions, $590 million in aggregate principal amount of senior notes due 2023 (the “Notes”).

The net proceeds from the offering of the Notes will be used to finance, in part, the acquisition of Ellucian by affiliates of the Sponsors (the “Acquisition”), and to pay certain related fees and expenses. Sophia, L.P. and Sophia Finance, Inc., indirect parent companies of Ellucian, will assume all of the obligations of the Issuer under the Notes upon the consummation of the Acquisition. Consummation of the Acquisition is subject to customary closing conditions. The offering and the actual terms of the Notes, including the interest rate, will depend on market and other conditions.

The notes being offered in the senior notes offering will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Notes are being offered only to qualified institutional buyers under Rule 144A and outside the United States in compliance with Regulation S under the Securities Act.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Ellucian

Ellucian is a leading global provider of a wide range of software and services to the higher education industry. More than 2,400 institutions in more than 40 countries rely on Ellucian to help enable the mission of higher education. Ellucian is one of the largest providers of cloud-based higher education solutions and provides student information systems (SIS), finance and human resources, recruiting, retention, analytics and advancement software. Ellucian also supports the higher education community with a range of professional services, such as application software implementation, training, education and management consulting. 

 

Media Contact

Ali Robinson
Director, Media Relations
Ellucian

Contact