McGraw Hill Launches $500M Notes Offering and $830M Term Loan Refinancing
MH sits 53% above its 52-week low of $8.945.
Summary
McGraw Hill announced a comprehensive debt refinancing: $500M in new senior secured notes due 2033, an $830M term loan B, and extended revolving credit facilities to 2031. Proceeds will redeem the 2028 notes and refinance the existing term loan.
Key Events · Financing and Capital Events · MH
-
$500M Notes Offering Launched
A private Rule 144A/Regulation S offering of $500 million in senior secured notes due 2033 is being launched by McGraw-Hill Education, Inc., with guarantees from Mav Intermediate Holding II Corporation and certain subsidiaries.
-
$830M Term Loan B Refinancing
The existing term loan will be refinanced with a new first lien senior secured term loan B facility of $830 million, maturing in 2033.
-
Revolver Extended to 2031
The cash flow revolving credit facility maturity is extended to 2031 with commitments increased to $150 million; the ABL revolving credit agreement maturity is also extended to 2031.
-
2028 Notes Redemption
A conditional notice of redemption was issued for the 5.750% Secured Notes due 2028, with expected redemption on October 9, 2026, conditioned on closing of the offering and receipt of sufficient proceeds.
Analysis · MH · Manufacturing
A comprehensive refinancing is underway at McGraw Hill, covering the entire debt stack: a $500 million senior secured notes offering due 2033, a new $830 million term loan B, and extensions of both revolving credit facilities to 2031. Proceeds will redeem the 5.750% Secured Notes due 2028 and refinance the existing term loan. Additionally, the company expects to voluntarily prepay $50 million of the existing term loan by September 30, 2026. This balance-sheet cleanup extends maturities and increases revolver capacity to $150 million, reducing near-term refinancing risk.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.6% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. 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 $13.69 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.