---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-270026"
form_type: "8-K"
ticker: "SCHL"
cik: "0000866729"
company_name: "SCHOLASTIC CORP"
filed_at: "2024-12-03T23:59:59+00:00"
generated_at: "2026-05-29T10:46:33.673140+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- accession: 0001193125-24-270026
- form_type: 8-K
- ticker: SCHL
- cik: 0000866729
- company_name: SCHOLASTIC CORP
- filed_at: 2024-12-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/866729/000119312524270026/0001193125-24-270026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/866729/000119312524270026/d916617d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-270026
- JSON: https://secwatch.observer/filing/0001193125-24-270026.json
- Plain text: https://secwatch.observer/filing/0001193125-24-270026.txt

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