McGraw Hill proposes $500 million bond issue in broader refinancing
McGraw Hill ($MH) launched a proposed $500 million offering of senior secured notes due in 2033 as part of a wider debt refinancing. The package also contemplates an $830 million first-lien term loan due in 2033, a $150 million revolving facility due in 2031 and an extension of its asset-based facility to 2031. The company intends to refinance its existing term loan and retire its 5.75% notes due in 2028, extending important debt maturities. The proposed bond’s coupon and final terms had not bee