On November 22, 2019, Houghton Mifflin Harcourt, a leading provider of K-12 core curriculum, supplemental and intervention solutions and professional learning services, announced that it closed refinancing transactions for $306 million of 9.000% Senior Secured Notes due 2025 (the “Notes”), a $380 million five-year senior secured term loan facility (the “Term Loan Facility”) and a $250 million five-year senior secured asset-based revolving credit facility.

Proceeds from the Notes, together with the net proceeds of term loan borrowings under the Term Loan Facility and cash on hand of approximately $114 million, were used to repay approximately $766 million in borrowings under Houghton Mifflin’s existing term loan facility due in 2021.

The WilmerHale team counseling Houghton Mifflin Harcourt was led by Justin Ochs and Tom Ward, and included Chalyse Robinson, Julie Hogan Rodgers, Nathan Moore, Craig Hilts, Sean Linnehan, Meghan Fay, Jenny Moore and Louise Luongo.

Read Houghton Mifflin's press release about the transactions.