DeVry Inc. Announces New $400M Credit Agreement

DeVry Inc. DV today announced that it has entered into a new revolving credit agreement. The amount of borrowing capacity available under the credit agreement is $400 million, with an option to request an increase of an additional $150 million, as needed, in the future. The agreement has a five year term ending May 2016. The new credit agreement replaces DeVry's prior $175 million agreement that was set to expire in January 2012, which included Bank of America, Bank of Montreal, Northern Trust, and JP Morgan Chase as the lending group.