---
schema_version: "secwatch.filing_event.v1"
accession: "0000866729-23-000002"
form_type: "8-K"
ticker: "SCHL"
cik: "0000866729"
company_name: "SCHOLASTIC CORP"
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T23:05:00.306822+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Scholastic amends credit agreement to replace LIBOR with SOFR

## Summary
- Amendments adjust SOFR credit spread adjustment to 0.10% (10 bps).
- Reference rate transitions from LIBOR to SOFR (Daily Simple SOFR, Term SOFR, or Base Rate).
- Applicable margins unchanged: 1.35% for SOFR loans, 0.35% for Base Rate loans.
- Borrowers are Scholastic Corporation and Scholastic Inc.; lenders include Truist, Wells Fargo, Bank of America.

## SEC filing metadata
- accession: 0000866729-23-000002
- form_type: 8-K
- ticker: SCHL
- cik: 0000866729
- company_name: SCHOLASTIC CORP
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/866729/000086672923000002/0000866729-23-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/866729/000086672923000002/schl-20230228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000866729-23-000002
- JSON: https://secwatch.observer/filing/0000866729-23-000002.json
- Plain text: https://secwatch.observer/filing/0000866729-23-000002.txt

## Key facts
- Material Agreements
  SCHOLASTIC CORP amended First and Second Amendments to its Amended and Restated Credit Agreement with the lenders, Truist Bank, Wells Fargo Bank, National Association, and Bank of America, N.A. (effective 2023-02-28).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: the lenders, Truist Bank, Wells Fargo Bank, National Association, and Bank of America, N.A.
  - Effective: 2023-02-28
  source text: On February 28, 2023, Scholastic Corporation (the “Corporation”) and its principal operating subsidiary, Scholastic Inc., as borrowers, entered into the First and Second Amendments to its Amended and Restated Credit Agreement dated as of October 27, 2021 (the “Credit Agreement”) with the lenders from time to time party thereto, Truist Bank and Wells Fargo Bank, National Association, as co-syndication agents and Bank of America, N.A., as administrative agent (collectively the "Amendments").
  evidence_url: https://www.sec.gov/Archives/edgar/data/866729/000086672923000002/0000866729-23-000002-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.