Daily News: February 5, 2014

Bloomberg: Cengage Reorganization Settlement Cuts $4B in Debt

Bloomberg reported Cengage Learning reached a deal with lenders and other creditors to reorganize and eliminate more than $4 billion of its $5.8 billion in funded debt.

Bloomberg said further the loan’s arrangers include Credit Suisse Securities LLC, Citigroup Global Markets, Deutsche Bank Securities, Morgan Stanley Senior Funding and KKR Capital Markets LLC, according to court papers.

To read the entire Bloomberg article, click here.