---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-013107"
form_type: "8-K"
ticker: "LOPE"
cik: "0001434588"
company_name: "Grand Canyon Education, Inc."
filed_at: "2024-10-01T23:59:59+00:00"
generated_at: "2026-05-30T23:14:47.536092+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-24-013107
- form_type: 8-K
- ticker: LOPE
- cik: 0001434588
- company_name: Grand Canyon Education, Inc.
- filed_at: 2024-10-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1434588/000155837024013107/0001558370-24-013107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1434588/000155837024013107/lope-20241001x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-013107
- JSON: https://secwatch.observer/filing/0001558370-24-013107.json
- Plain text: https://secwatch.observer/filing/0001558370-24-013107.txt

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