Princeton Review refinances credit facility
FRAMINGHAM -- Princeton Review Inc. said it refinanced its credit facility with GE Capital, the finance arm of General Electric Co.
Princeton Review said the new credit agreement gives it a $60 million senior secured term loan and a $12.5 million senior secured revolving credit facility.
The company previously had a $50 million credit facility. It said the new borrowing gives it greater flexibility at more favorable interest rates.
Shares of Princeton Review lost 3 cents to $2.36 in afternoon trading.