Wiley extends $1.315B credit facility to Nov 2027; switches to SOFR, adds Hindawi as guarantor

JOHN WILEY & SONS, INC.

Extended $1.315B of credit commitments to November 2027; $185M maintained to May 2024.
Interest rate benchmark changed from LIBOR to SOFR with applicable adjustments.
Added Hindawi Limited as a new guarantor under the Foreign Subsidiary Guaranty.
Modified financial covenants including Consolidated Net Leverage and Interest Coverage ratios.
New lenders joined; existing lenders extended commitments.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

JOHN WILEY & SONS, INC. amended Second Amendment to the Third Amended and Restated Credit Agreement with Bank of America, N.A. and the lenders valued at $1.315 billion (effective 2022-11-30).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A. and the lenders
Value: $1.315 billion
Effective: 2022-11-30

Exact text from the filing

On November 30, 2022, John Wiley & Sons, Inc. (the “Company”) and certain of its subsidiaries, entered into the second amendment (the “Second Amendment”) to the Third Amended and Restated Credit Agreement, with Bank of America, N.A. (“BOA”), as administrative agent, swing line lender, and L/C issuer, and the lenders, and other agents party thereto

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JOHN WILEY & SONS, INC. filing history →

Source: SEC EDGAR

accession 0000107140-22-000088

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