McGraw-Hill Education, a wholly-owned subsidiary of McGraw Hill, Inc., completed the private offering of $400 million in aggregate principal amount of 8.000% senior secured notes due 2033. Concurrently, the company entered into an amended and restated cash flow credit agreement providing for a $930 million senior secured term loan facility maturing in October 2033 and increased revolving commitments to $150 million. The net proceeds were used to redeem in full the outstanding 5.750% Secured Notes due 2028 and refinance existing term loans. Additionally, the company amended its senior secured ABL revolving credit agreement to extend maturity to October 2031. McGraw Hill operates as a leading global provider of education solutions for K-12, higher education, and professional learning.
