Education Management Corporation Announces $1.5B Credit Facility

Education Management Corporation

announced today that it has entered into an agreement to amend and extend its credit and guarantee agreement, which includes a $442.5 million revolving credit facility and a $1.1 billion term loan. U nder the agreement, revolving lenders have agreed to extend the maturity of commitments totaling $328.3 million under the facility from June 1, 2012 to June 1, 2015. In addition, holders of an aggregate $761.6 million of the term loan have agreed to extend the maturity date from June 1, 2013 to June 1, 2016.