McGraw Hill Financial Announces Extension of Registered Exchange Offer

Exchange Offer Extended to 5:00 p.m., New York City time, on December 14, 2015

Dec 10, 2015, 08:30 ET from McGraw Hill Financial

NEW YORK, Dec. 10, 2015 /PRNewswire/ -- McGraw Hill Financial, Inc. (NYSE: MHFI) (the "Company") today announced the extension of its previously announced exchange offer for:

  • up to $400 million of its new 2.500% Senior Notes due 2018 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 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 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 for up to $900 million of its existing 4.400% Senior Notes due 2026 (the "old 2026 notes").

The expiration date of the exchange offer has been extended from December 10, 2015 so that it will expire at 5:00 p.m., New York City time, on December 14, 2015, unless further extended. Tenders of old notes must be made before the exchange offer expires and may be withdrawn any time prior to expiration of the exchange offer.

As of 5:00 p.m., New York City time, on December 9, 2015, the Company had received tenders, not subsequently withdrawn, of $245.7 million principal amount of old 2018 notes (61.4% of the outstanding principal amount), $472.5 million principal amount of old 2020 notes (67.5% of the outstanding principal amount), $368.5 million principal amount of old 2025 notes (52.6% of the outstanding principal amount) and $578.2 million principal amount of old 2026 notes (64.2% of the outstanding principal amount).

The terms of the exchange offer are set forth in a prospectus dated November 10, 2015. Documents related to the offer, including the prospectus and the associated letter of transmittal, have been filed with the Securities and Exchange Commission, and may be obtained from the exchange agent, U.S. Bank National Association, c/o U.S. Bank National Association, 111 Filmore Avenue, St. Paul, MN 55107-1402, Attention: Specialized Finance—Mike Tate, telephone (800) 934-6802.

This announcement is neither an offer to buy nor a solicitation of an offer to sell any of the Company's securities. The exchange offer is being made only pursuant to the exchange offer documents, which have been filed with the SEC, and include the prospectus and letter of transmittal that have been distributed to holders of the old notes.

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



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