- Deutsche Bank and Nomura extend 5-year financing to XCL Education, a leading K-12 private education group in Southeast Asia, to support regional growth in countries like Malaysia and Vietnam.
- XCL Education owns premium institutions such as XCL World Academy, Sri KDU, and Vietnam Australia International School, amid rising investor interest in quality education across Asia.
- Part of a broader trend in private credit investment, this deal follows major education-related financings like Nomura and KKR’s funding of The Learning Lab and BlackRock’s loan to Canadian International School.
Deutsche Bank and Nomura together have provided XCL Education, a top private K–12 education group in Southeast Asia based in Singapore, with a five-year financing package. This strategic funding will enhance the capital structure of XCL and facilitate its regional growth across Asia, including Malaysia and Vietnam.
XCL Education has a portfolio of high-end international schools such as XCL World Academy, Sri KDU, and Vietnam Australia International School. The funding reflects increasing demand from private credit lenders for exposure to the education space globally, as well as in Asia, where there is increasing demand for quality education.
The deal is part of a larger trend of private credit players focusing on education-related investments within the region. For example, in 2023, HPS Investment Partners, KKR, and Nomura provided The Learning Lab, a Singapore-based tuition center, with a SGD 265 million unitranche facility. BlackRock also gave Canadian International School a $143 million loan prior to its refinancing.
Deutsche Bank has been aggressively developing its private credit business in Asia across industries like healthcare, digital infrastructure, and transition energy. The bank has been strengthening its regional team, underlining its efforts to deliver customised financing solutions to accommodate the various requirements of borrowers in Asia.
Nomura, too, has been building its presence within the Asian private credit space with participation in landmark deals like the unitranche facility for The Learning Lab.
Deutsche Bank and Nomura's partnership in facilitating XCL Education's expansion is consistent with the rising need for quality education in Asia and the strategic interests of private credit providers in the region.
