Adtalem Commences Offer to Purchase Certain of its Outstanding 5.500% Senior Notes due 2028

Key Facts

Under the terms of the Asset Sale Offer, holders of the Notes who validly tender and do not withdraw their Notes prior to 5:00 P.M., New York City time, on April 8, 2022 (as such time and date may be extended) and whose Notes are accepted for purchase, will receive the applicable “Purchase Price,” which equals 100% of the principal amount of the Notes, equivalent to $1,000 per $1,000 principal amount of Notes, plus accrued and unpaid interest and additional interest, if any, up to, but not including, the date of payment.
As provided in the Indenture, if at the Expiration Date the Notes tendered exceeds $373,333,000, Adtalem will purchase Notes on a pro rata basis to the extent practicable, by lot or by other such method as the trustee shall deem fair and appropriate.
In the event that less than $373,333,000 in principal amount of Notes is tendered in the Asset Sale Offer, all of the tendered Notes will be repurchased by Adtalem.
As provided in the Indenture, if at the Expiration Date the Notes tendered exceeds $373,333,000, Adtalem will purchase Notes on a pro rata basis to the extent practicable, by lot or by other such method as the trustee shall deem fair and appropriate.