In advance of the closing of their pending sale of McGraw Hill to Platinum Equity, the company reported fourth quarter and full-year results. As of March 31, their total debt had a face value of $2.159 billion. They paid debt service of $227 million in the fiscal year, and ended the year with $354 million of cash. The risk factors section notes plainly, “We are a leveraged company that has substantial indebtedness.” Higher ed sales were $649 million in the year, and K-12 sales were $584 million. Like HMH, Pearson and other education companies, McGraw Hill touts its digital transformation […]
