McGraw Hill Completes $1.48B Debt Refinancing: $400M Notes, $930M Term Loan, $150M Revolver
MH sits 49% above its 52-week low of $8.945.
Summary
McGraw Hill completed its debt refinancing on October 9, 2026, closing a $400M 8.000% senior secured notes offering due 2033, a $930M term loan B, and a $150M revolving credit facility, replacing its 2028 notes and existing term loan.
Key Events · Financing and Capital Events · MH
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Refinancing Completed
Closed $400M 8.000% senior secured notes due 2033, a $930M term loan B maturing 2033, and a $150M revolving credit facility maturing 2031 on October 9, 2026.
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Final Terms vs. Announced
Notes offering closed at $400M vs $500M announced September 25; term loan B upsized to $930M vs $830M announced; revolver expanded to $150M from $111M.
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Debt Repaid
Redeemed in full the 5.750% Senior Secured Notes due 2028 and refinanced the existing term loan facility; also prepaid $50M of term loan principal on September 30, 2026.
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Interest Cost
New notes carry 8.000% fixed rate; term loan B bears SOFR + 2.75% (or base rate + 1.75%), with quarterly amortization of $2.325M.
Analysis · MH · Manufacturing
A comprehensive refinancing has replaced McGraw Hill's 2028 secured notes and existing term loan with a new capital structure. Final terms differ from the September 25 announcement: the notes offering came in at $400M (vs $500M planned), the term loan B was upsized to $930M (vs $830M planned), and the revolving facility was expanded to $150M from $111M. The new 8.000% notes due 2033 and SOFR+2.75% term loan extend maturities to 2033, pushing out near-term debt obligations. The company also prepaid $50M of term loan principal on September 30 and redeemed the 2022 secured notes in full. This balance-sheet cleanup reduces refinancing risk and extends runway, though at a higher blended interest cost than the retired 5.750% notes.
How filings like this one have moved
In the 30 days to Oct 9, 2026, 28.2% of the 1631 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MH was trading at $13.37 on NYSE in the Manufacturing sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $8.95 to $18.00. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.