---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-053825"
form_type: "8-K"
ticker: "GHC"
cik: "0000104889"
company_name: "Graham Holdings Co"
filed_at: "2025-11-24T23:59:59+00:00"
generated_at: "2026-05-16T17:13:19.530375+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-25-053825
- form_type: 8-K
- ticker: GHC
- cik: 0000104889
- company_name: Graham Holdings Co
- filed_at: 2025-11-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/104889/000162828025053825/0001628280-25-053825-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/104889/000162828025053825/ghc-20251124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-053825
- JSON: https://secwatch.observer/filing/0001628280-25-053825.json
- Plain text: https://secwatch.observer/filing/0001628280-25-053825.txt

## Key facts
- Debt Financings
  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
  source text: 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).
  evidence_url: https://www.sec.gov/Archives/edgar/data/104889/000162828025053825/0001628280-25-053825-index.htm

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