McGraw Hill plans $500 million senior secured notes offering due 2033
MH•McGraw Hill plans a private offering of $500 million in senior secured notes due 2033, with proceeds targeted to redeem its 5.750% notes due 2028. The refinancing also includes a new $830 million term loan B and changes to its revolving credit facilities.
1. Debt refinancing plan
McGraw Hill announced a proposed private offering of $500 million in senior secured notes due 2033. The proceeds are targeted to redeem its 5.750% secured notes due 2028, alongside a new $830 million term loan B. The plan also includes a $150 million cash flow revolver due 2031 to replace the existing revolver and an amendment extending the asset-based revolving credit agreement's maturity to 2031.
