McGraw Hill Financial Announces Closing of Exchange Offer

Dec 22, 2015, 14:05 ET from McGraw Hill Financial, Inc.

NEW YORK, Dec. 22, 2015 /PRNewswire/ -- McGraw Hill Financial, Inc. (NYSE: MHFI) (the "Company") today announced the closing of its previously announced exchange offer for:

  • up to $400 million of its new 2.500% Senior Notes due 2018 (the "new 2018 notes") for up to $400 million of its existing 2.500% Senior Notes due 2018 (the "old 2018 notes"),
  • up to $700 million of its new 3.300% Senior Notes due 2020 (the "new 2020 notes") for up to $700 million of its existing 3.300% Senior Notes due 2020 (the "old 2020 notes"),
  • up to $700 million of its new 4.000% Senior Notes due 2025 (the "new 2025 notes") for up to $700 million of its existing 4.000% Senior Notes due 2025 (the "old 2025 notes") and
  • up to $900 million of its new 4.400% Senior Notes due 2026 (the "new 2026 notes") for up to $900 million of its existing 4.400% Senior Notes due 2026 (the "old 2026 notes").

The exchange offer expired on December 14, 2015. On December 18, 2015, the Company accepted tenders of approximately 96.9% of the outstanding principal amount of old 2018 notes, 100.0% of the outstanding principal amount of old 2020 notes, 99.9% of the outstanding principal amount of old 2025 notes and 99.9% of the outstanding principal amount of old 2026 notes. Upon acceptance, the Company exchanged such old notes for, respectively, approximately:

  • $387.7 million principal amount of new 2018 notes,
  • $699.9 million principal amount of new 2020 notes,
  • $699.3 million principal amount of new 2025 notes and
  • $898.9 million principal amount of new 2026 notes.

Old notes that were not accepted in the exchange offer remain outstanding.

The terms of the exchange offer were set forth in a prospectus dated November 10, 2015, filed with the Securities and Exchange Commission. This announcement is neither an offer to buy nor a solicitation of an offer to sell any of the Company's securities.

About McGraw Hill Financial: McGraw Hill Financial is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include Standard & Poor's Ratings Services, S&P Capital IQ and SNL, S&P Dow Jones Indices, Platts, CRISIL, and J.D. Power. The Company has approximately 20,000 employees in 31 countries. Additional information is available at www.mhfi.com.

Investor Relations: http://investor.mhfi.com

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Contacts:

Investor Relations: Chip Merritt Vice President, Investor Relations (212) 438-4321 (office) chip.merritt@mhfi.com

News Media: Christine Elliott Vice President, Corporate Communications & Marketing (212) 438-1323 (office) christine.elliott@mhfi.com

Jason Feuchtwanger Director, Corporate Media Relations (212) 438-1247 (office) jason.feuchtwanger@mhfi.com

SOURCE McGraw Hill Financial, Inc.



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