Scholastic amends credit facility: $400M revolver, extended maturity to 2029, removes Term SOFR credit spread

SCHOLASTIC CORP

$400M unsecured revolving credit facility with maturity extended to November 26, 2029; accordion feature permits $150M increase.
Term SOFR credit spread adjustment of 0.10% eliminated; applicable margins now range 1.625%-1.875% for Term SOFR.
Unlimited dividends and share repurchases allowed if pro forma net leverage ratio ≤ 2.75:1 (previously more restrictive).
One-time waiver of potential default for TUTI Books contract under Iranian Transactions Sanctions general license.
Additional lenders added: HSBC, Fifth Third, Citibank, etc. as co-agents; Bank of America remains administrative agent.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.