Cambium Learning Group has raised $175 million through a debt issue. The U.S. software manufacturer, which sold 9.75% senior secured notes that are due to mature in 2017, may use the sale proceeds to repay outstanding debt under its existing secured credit facility and senior unsecured notes.

Barclays and BMO Capital were the joint bookrunning managers for the sale, adds Reuters. The company is also intending to tap its previously announced $40 million asset-based revolving credit facility.

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