secwatch.observer — SEC 8-K summary
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Issuer:     SCHOLASTIC CORP (SCHL)
CIK:        0000866729
Form:       8-K
Filed at:   2023-02-28T23:59:59+00:00
Accession:  0000866729-23-000002
Event type: debt
Sentiment:  neutral
Materiality: 0.20
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Scholastic amends credit agreement to replace LIBOR with SOFR
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866729/000086672923000002/0000866729-23-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866729/000086672923000002/schl-20230228.htm
  HTML page:      https://secwatch.observer/filing/0000866729-23-000002

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer