Houghton Mifflin Harcourt extends revolving credit facility to 2021

By Angela McDaniels

Tacoma, Wash., July 1 – Houghton Mifflin Harcourt Co. extended the maturity date of a revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The maturity date is now the earlier of (i) July 22, 2021 and (ii) if the debt incurred under the loan parties’ amended and restated term loan facility dated May 29, 2015 is not refinanced on or prior to the date that is 91 days prior to the stated maturity date for such debt, that 91st day.

The amendment also releases mortgages on real property owned by the loan parties entered into in connection with the credit agreement.

The amendment was made Friday and became effective Monday.

Houghton Mifflin Harcourt is the guarantor. The borrowers are subsidiaries Houghton Mifflin Harcourt Publishers Inc., HMH Publishers LLC and Houghton Mifflin Harcourt Publishing Co.

Citibank, NA is the administrative agent.

Houghton Mifflin Harcourt is a Boston-based educational publisher in the K-12 market.

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