November 24, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Cambium Learning Group, Inc. (NASDAQ: ABCD) said it plans to offer $175 million of senior secured notes due 2016.

In connection with the proposed offering, certain subsidiaries of Cambium plans to enter into a new asset-based revolving credit facility of up to $40 million. Cambium said it plans to use the net proceeds from the offering to repay in full outstanding indebtedness under its existing secured credit facility and senior unsecured notes, pay related fees and expenses and for general corporate purposes.

The offering will be subject to the closing of the new asset-based revolving credit facility.

Texas-based Cambium Learning operates three business units: Voyager, an intervention business; Sopris, a supplemental solutions business; and Cambium Learning Technologies, which includes ExploreLearning, IntelliTools, Kurzweil and Learning A-Z.  

Through its core divisions, the company provides research-based education solutions for students in Pre-K through 12th grade, including intervention curricula, educational technologies and services primarily focused on serving the needs of challenged learners.

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