eCollege Note Repayment
In November, eCollege fully repaid its $20 million of subordinated debt.
The Company achieved this objective through internally generated cash flow.
CRP originally invested in eCollege in 2003 in order to finance a strategic
acquisition. Since the original investment, eCollege’s revenue and
EBITDA have increased 3.2X and 5.3X, respectively. CRP still maintains
a common stock warrant position.
return to CRP in the News >