Cinven-owned Omnes Education seeks to refinance €700m debt
French higher-education provider Omnes Education is seeking to refinance approximately €700m of debt, as its private equity owner Cinven navigates mounting pressure on the country’s education sector, according to a a report by Bloomberg citing an unnamed person familiar with the matter.
French higher-education firm Omnes Education is exploring options to refinance around €700 million in debt, as its private equity investor Cinven faces growing scrutiny over the country's education industry, according to Bloomberg citing an anonymous source. Most of the group's loan obligations are set to mature in April 2028, while its parent company, Educin Topco, has €216 million of convertible bonds due for repayment in April 2029.
Omnes Education generates about €95 million in annual earnings before interest, taxes, depreciation, and amortisation, the source revealed. Among its current creditors are Goldman Sachs, PSP Investments, M&G, and Clearlake Credit. Attempts to reach representatives from the lenders and Cinven for comment were unsuccessful, and Omnes Education did not respond to a request for comment.
Cinven made an investment in Omnes Education in 2019. Established in France in 1975, the educational organization operates campuses and training centers across France and internationally, enrolling roughly 40,000 students annually, as stated on its website.
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