Company: GHC
Filing Date: 2025-11-24
Form Type: 8-K
Source: 0001628280-25-053825
Chunk: 1

Company: Graham Holdings Co
Filing Date: 2025-11-24
Form: 8-K
Item: Item 1.01
Chunk 1
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ated Credit Agreement, Total Net Leverage Ratio). The Company may draw on the New Revolving Credit Facility for general corporate purposes. The New Revolving Credit Facility will mature on the date that is five years after its effectiveness, unless the Company and the lenders agree to further extend the term. Any outstanding borrowings will be required to be repaid on or prior to the final termination date. The Amended and Restated Credit Agreement contains terms and conditions, including remedies in the event of a default by the Company, typical of facilities of this type and requires the Company to maintain a Total Net Leverage Ratio of not greater than 3.5 to 1.0 and a consolidated interest coverage ratio of at least 3.0 to 1.0 based upon the ratio of consolidated adjusted EBITDA to consolidated interest expense as determined pursuant to the Amended and Restated Credit Agreement.

The foregoing description of the Amendment and Restatement Agreement does not purport to be complete, and is qualified in its entirety by reference to the Amendment and Restatement Agreement, which is filed hereto as Exhibit 10.1, which is incorporated herein by reference.

The lenders under the Amended and Restated Credit Agreement and their affiliates have various relationships with the Company and its subsidiaries involving the provision of financial services, including cash management, investment banking and other arrangements.

Bond Offering

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). The Notes are guaranteed, jointly and severally, on a senior unsecured basis, by certain of the Company’s existing and future domestic subsidiaries.

The Company will use the net proceeds from the offering of the Notes, together with borrowings under the New Revolving Credit Facility, to (i) redeem all of the Company’s outstanding 5.750% notes due 2026 (the 2026 Notes), (ii) refinance the Existing Revolving Credit Facility, (iii) repay all amounts outstanding under the Company’s existing $150 million term loan facility and (iv) pay related fees and expenses.

On November 12, 2025, the Company issued a notice of redemption to redeem on or around November 24, 2025 (the Redemption Date) the 2026 Notes. The 2026 Notes will be redeemed at par plus accrued and unpaid interest on the 2026 Notes to be redeemed to the Redemption Date.

The Notes were sold pursuant to a purchase agreement,