GCE pledges $200M cash to secure GCU's $500M bank loans; GCU refinances 2021 bonds

Grand Canyon Education, Inc.

GCU borrowed $500M from MidFirst Bank and NBAZ; proceeds refinance 2021 bonds.
GCE pledged $200M of its cash ($100M per bank) as collateral for GCU's loans.
MidFirst loan matures Oct 1, 2026; NBAZ loan matures Apr 1, 2025.
GCU must indemnify GCE for losses under the pledge, excluding gross negligence.
Pledge agreements terminate when GCU repays or substitutes its own collateral.

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.