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McGraw-Hill Global Education Announces Intention to Prepay Debt

McGraw-Hill Global Education Announces Intention to Prepay Debt

Tags: Education News & Policy, Press Release, Article

NEW YORK, March 23, 2016 -- McGraw-Hill Global Education Holdings, LLC, a learning science company, announced today that it will be using free cash flow generated from operations to prepay $72.5 million of its term loans due 2019 on April 1, 2016.

With this payment, the Company will have prepaid approximately $189 million of its term loans (in addition to scheduled amortization) since 2013.

McGraw-Hill Global Education is scheduled to file its annual results with the SEC on Form 10-K, and will post an investor presentation to its website, investors.mheducation.com, on March 30.  The Company will not host an earnings call this quarter as its parent company remains in a quiet period related to its registration with the SEC for an initial public offering.

About McGraw Hill
McGraw Hill is a leading global provider of education solutions for preK-12, higher education and professional learning, supporting the evolving needs of millions of educators and students around the world. We provide trusted, high-quality content and personalized learning experiences that use data, technology and learning science to help students progress towards their goals. Through our commitment to fostering a culture of innovation and belonging, we are dedicated to improving outcomes and access to education for all. We have over 30 offices across North America, Asia, Australia, Europe, the Middle East and South America, and make our learning solutions available in more than 80 languages. 

Contact
Tyler Reed
McGraw Hill
(914) 512-4853
tyler.reed@mheducation.com