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McGraw-Hill announces $640 million eight-year notes to extend maturity profile, fund dividend
By Paul A. Harris and Sara Rosenberg
Portland, Ore., April 18 – McGraw-Hill Global Education Holdings LLC announced in a Monday press release that it intends to sell $640 million of eight-year senior notes.
The New York-based provider of education materials plans to use the proceeds for debt refinancing in order to extend its maturity profile, as well as to merge McGraw-Hill School Education into the McGraw-Hill Global Education credit group, and to fund a dividend.
The debt financing also includes a $1,655,000,000 credit facility scheduled to launch at a Monday bank meeting. Credit Suisse Securities (USA) LLC is leading the credit facility.
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