Grand Canyon Education enters $100 million five-year revolving credit facility with Zions Bancorporation unit
LOPE•Grand Canyon Education entered a $100 million five-year senior secured revolving credit facility on Sept. 28, 2026, intended mainly to fund common stock repurchases.
1. Facility terms
National Bank of Arizona, a Zions Bancorporation unit, is administrative agent and lead arranger; the facility includes a $10 million letter-of-credit sublimit. Pricing is one-month Term SOFR plus 1.50% to 2.00%, tied to leverage, and commitments can increase by up to $100 million. Orbis Education guarantees the obligations, substantially all personal property serves as collateral, and covenants cap leverage at 2.00x.
