Baltimore, February 23, 2009 - Laureate Education, Inc. ("Laureate"), today announced that it extended the Early Participation Date with respect to each of its previously announced cash tender offers for its 10 1/4%/11% Senior Toggle Notes due 2015 (the "Toggle Notes") and 11 3/4% Senior Subordinated Notes due 2017 (the "Subordinated Notes" and, together with the Toggle Notes, the "Notes"). The Early Participation Date for each tender offer, which was at 5:00 p.m., New York City time, on February 20, 2009, will be extended to 5:00 p.m., New York City time, on March 9, 2009, unless, with respect to a tender offer, such time and date is further extended with respect to that tender offer.
Holders who validly tender their Notes on or prior to the Early Participation Date, and whose Notes are purchased pursuant to a tender offer, will be entitled to receive an "early participation payment" of $30.00 per $1,000 principal amount of Notes so purchased.
The Withdrawal Date with respect to each tender offer expired at 5:00 p.m., New York City time, on February 20, 2009. Notes tendered on or before the Withdrawal Date cannot be withdrawn after the Withdrawal Date, and holders who tender Notes after the Withdrawal Date do not have withdrawal rights. Each tender offer will expire at 5:00 p.m., New York City time, on March 9, 2009, unless, with respect to a tender offer, such time and date is extended with respect to that tender offer.
Laureate has retained Citi to serve as dealer manager for the tender offers and Global Bondholder Services Corporation to serve as the depositary and information agent. The terms and conditions of the tender offers are described in the Offer to Purchase dated February 6, 2009 (the "Offer to Purchase"), and the related letter of transmittal, copies of which may be requested from Global Bondholder Services Corporation at +1 (866) 470-4300 (toll free) or +1 (212) 430-3774 (charged call). Questions regarding the tender offers may be directed to Citi at +1 (800) 558-3745 (toll free).
This press release does not constitute an offer to purchase or a solicitation of any offer to sell the Notes or any other securities. The tender offers are being made solely by the Offer to Purchase and the related letter of transmittal.
The tender offers are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the tender offers to be made by a licensed broker or dealer, the tender offers will be deemed to be made on behalf of Laureate by the dealer manager, if the dealer manager is a licensed broker or dealer under the laws of such jurisdiction, or by one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
About Laureate Education, Inc.
Laureate Education, Inc., a Maryland corporation headquartered in Baltimore, Maryland, is a leading international provider of higher education services. Laureate International Universities is our global network of 40 accredited campus-based and online universities offering undergraduate and graduate degree programs to nearly 440,000 students around the world. Laureate International Universities' students are part of an international, academic community that spans 18 countries and more than 90 campuses throughout North America, Latin America, Europe, and Asia. Laureate International Universities offer more than 130 career-focused, undergraduate, master's and doctoral degree programs in fields including engineering, education, business, medicine, law, architecture, health sciences, hospitality, culinary arts, and information technology. For more information, visit http://www.laureate-inc.com.