Graham Holdings issues $500M 5.625% notes due 2033; enters $400M revolver

Graham Holdings Co

Issued $500M senior unsecured notes at 5.625%, due Dec 1, 2033, with semi-annual interest starting June 1, 2026.
New $400M five-year revolving credit facility replaces existing revolver; increases L/C sublimit to $40M.
Proceeds used to redeem $500M 5.750% notes due 2026, repay $150M term loan, and refinance existing revolver.
Credit facility requires max total net leverage ratio of 3.5x and min interest coverage of 3.0x.
Notes are senior unsecured, guaranteed by certain domestic subsidiaries; will rank equally with other unsecured debt.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

Graham Holdings Co incurred senior notes of $500 million aggregate principal amount with J.P. Morgan Securities LLC at 5.625% per annum maturing December 1, 2033.

Instrument: senior notes
Principal: $500 million aggregate principal amount
Counterparty: J.P. Morgan Securities LLC
Rate: 5.625% per annum
Maturity: December 1, 2033
Event: incurrence

Exact text from the filing

On November 24, 2025, the Company completed the issuance and sale of $500 million aggregate principal amount of senior unsecured notes due 2033 (the Notes).

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Graham Holdings Co filing history →

Source: SEC EDGAR

accession 0001628280-25-053825

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