McGraw-Hill Global Education Announces Intention to Prepay Debt

March 24, 2016

Tags: Announcement, Education News & Policy, Blog 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.

McGraw Hill
McGraw Hill is a leading global education company that partners with millions of educators, learners and professionals around the world. Recognizing their diverse needs, we build trusted content, flexible tools and powerful digital platforms to help them achieve success on their own terms. Through our commitment to equity, accessibility and inclusion, we foster a culture of belonging that respects and reflects the diversity of the communities, learners and educators we serve. McGraw Hill has over 40 offices across North America, Asia, Australia, Europe, the Middle East and South America, and makes its learning solutions for PreK–12, higher education, professionals and others available in more than 80 languages. Visit us at mheducation.com or find us on Facebook, Instagram, LinkedIn, or Twitter.

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