McGraw-Hill's sale of McGraw-Hill Education to Apollo Global is now all-cash deal; transaction expected to close before the end of the month

NEW YORK , March 5, 2013 (press release) – The McGraw-Hill Companies (MHP) commented on the launching of bank debt financing to support the previously disclosed purchase by investment funds affiliated with Apollo Global Management, LLC (APO) of the McGraw-Hill education business.

"We are pleased with the progress that is being made to secure funding, that the sale of McGraw-Hill Education is now an all-cash deal, and that the transaction is expected to close before the end of this month."

As part of the transaction, McGraw-Hill will receive an additional $150 million in cash at closing from the investment funds affiliated with Apollo Global Management, in lieu of being issued $250 million in face amount of unsecured notes by a holding company of McGraw-Hill Education.

Upon closing, McGraw-Hill will be renamed McGraw Hill Financial (subject to shareholder approval) and will be a high-growth, high-margin company serving the global capital and commodities markets.


About The McGraw-Hill Companies:

The McGraw-Hill Companies, a financial intelligence and education company, signed an agreement to sell its McGraw-Hill Education business to investment funds affiliated with Apollo Global Management, LLC in November 2012. Following the sale closing, expected in early 2013, the Company will be renamed McGraw Hill Financial (subject to shareholder approval) and will be a powerhouse in benchmarks, content and analytics for the global capital and commodity markets. The Company's leading brands will include: Standard & Poor's, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL Ltd., J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Company will have approximately 17,000 employees in more than 30 countries. Additional information is available at www.mcgraw-hill.com. 

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