Cengage Learning Inc. is requesting bankruptcy-court permission for $2 billion in loans that will finance the company's operations after it exits Chapter 11 bankruptcy.

The textbook publisher said in documents filed in late December with the U.S. Bankruptcy Court, that it must have the financing -- a $250 million revolving facility and a term loan of between $1.5 billion and $1.75 billion--lined up by Jan. 15 so that it can exit bankruptcy in March 2014.

A group of banks -- Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley Senior Funding, Inc. and KKR Capital Markets LLC -- will structure and syndicate the loans.

Cengage's bankruptcy-exit plan, which is slated for a confirmation hearing on Feb. 24, is contingent on it lining up this financing.

Cengage, a textbook publisher, filed for Chapter 11 protection in July with a plan to swap more than $4 billion in first-lien debt for 100% equity in the restructured company.