Saturday August 15, 2020

Riverdeep faces $500m annual interest bill

Educational publisher Riverdeep is facing annual interest bills of more than $500 million to service its bank debt, following the company’s $4 billion acquisition of a rival publisher last week.

21st July, 2007

Educational publisher Riverdeep is facing annual interest bills of more than $500 million to service its bank debt, following the company’s $4 billion acquisition of a rival publisher last week.

Riverdeep borrowed about $3.7 million to help fund the acquisition of Harcourt Education, the US educational publishing division of Anglo Dutch company Reed Elsevier.

The deal comes just eight months after Riverdeep pulled off a $4.95 billion reverse takeover of US publishing giant Houghton Mifflin. The...

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