secwatch.observer — SEC 8-K summary
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Issuer:     McGraw Hill, Inc. (MH)
CIK:        0001951070
Form:       8-K
Filed at:   2026-10-09T20:29:22+00:00
Accession:  0001193125-26-419151
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

McGraw Hill completes refinancing: $400M 8.000% notes due 2033, $930M term loan, redeems 5.750% notes due 2028
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- Subsidiary McGraw-Hill Education sold $400M of 8.000% senior secured notes due 2033; proceeds redeemed in full the 5.750% Secured Notes due 2028 and refinanced the existing term loan.
- New $930M senior secured term loan facility matures October 7, 2033, amortizing in $2.325M quarterly installments; interest at SOFR+2.75% or base rate+1.75%.
- Cash flow revolver expanded to $150M from $111M and, along with the ABL credit facility, maturity extended to October 9, 2031.
- Company prepaid $50M of term loan principal on September 30, 2026; CFO Bob Sallmann reaffirmed a net debt to Adjusted EBITDA target of 2.0-2.5x.
- Notes callable at 103% for up to 10% per year and at a make-whole price prior to October 15, 2029; issuer cites recent rating agency upgrades.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1951070/000119312526419151/0001193125-26-419151-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1951070/000119312526419151/d147687d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-419151

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