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McGraw-Hill Global Education Holdings Launches Syndication Of Senior Secured Credit Facilities

Stocks in this article: APO MHP

NEW YORK, March 4, 2013 /PRNewswire/ -- McGraw-Hill Global Education Holdings, LLC ("MH Global Education"), an entity formed by investment funds affiliated with Apollo Global Management, LLC (NYSE: APO) (collectively with its subsidiaries, "Apollo"), announced today the launch of the syndication of $800 million of senior secured credit facilities to finance the previously announced acquisition of the McGraw-Hill Education business of The McGraw-Hill Companies, Inc. (NYSE: MHP) by investment funds affiliated with Apollo (the "Acquisition").

MH Global Education's new senior secured credit facilities will consist of a $240 million revolving credit facility and a $560 million term loan facility.  Borrowings under senior secured credit facilities on the closing date will be used to fund a portion of the acquisition consideration for the Acquisition and pay related fees and expenses. After the closing date, the revolving credit facility will be used for the working capital needs of MH Global Education and for other general corporate purposes.  The financing is subject to market conditions and other factors.

About McGraw-Hill EducationMcGraw-Hill Education is a digital learning company that draws on its more than 100 years of educational expertise to offer solutions that improve learning outcomes around the world. McGraw-Hill Education is the adaptive education technology leader with the vision for creating a highly personalized learning experience that prepares students of all ages for the world that awaits. McGraw-Hill Education has offices across North America, India, China, Europe, the Middle East and South America, and makes its learning solutions available in more than 60 languages. For additional information, visit  www.mheducation.com.

About ApolloApollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of approximately $113 billion as of December 31, 2012, in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.

Forward-Looking StatementsThis release includes "forward‐looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain words such as "may," "will," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," "continue" or "pursue," or the negative or other variations thereof or comparable terminology. In particular, they include statements relating to, among other things, future actions, new projects, strategies, future performance, the outcomes of contingencies and future financial results of MH Global Education. These forward‐looking statements are based on current expectations and projections about future events.

Any forward‐looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. MH Global Education disclaims any obligation to update the forward‐looking statements. You are cautioned not to place undue reliance on these forward‐looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release.

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