BOSTON — July 19, 2021 — Skillsoft Corp. (NYSE: SKIL) (“Skillsoft” or the “Company”), a global leader in corporate digital learning, today announced it has successfully completed its previously announced debt refinancing. The Company has closed a new $480 million senior secured term loan B facility. This facility, along with cash on hand, will be used to refinance and repay the Company’s existing term loan facilities, thereby reducing long-term debt by approximately $130 million.

The new term loan B facility reduces Skillsoft’s interest rate by 300 basis points and extends its maturity from 2025 to 2028. Together, the refinancing and debt paydown will decrease the Company’s annual interest payments by approximately $25 million.

Jeffrey R. Tarr, Skillsoft’s Chief Executive Officer, said, “We are pleased to complete our refinancing, which strengthens our balance sheet, increases our free cash flow and provides substantial financial flexibility to execute on our organic and acquisitive growth plans. We are excited to move forward as an even stronger company as we continue helping our customers future-proof their workforce and giving learners the tools they need to realize their full potential.”

As a result of the refinancing and debt paydown, the Company has $480 million of long-term debt outstanding.

Additional information is available in a presentation on the Investor Relations section of the Company’s website and included in a Form 8-K filed today with the U.S. Securities and Exchange Commission.

About Skillsoft

Skillsoft (NYSE: SKIL) is a global leader in corporate digital learning, serving approximately 70% of the Fortune 1000, customers in over 160 countries and more than 45 million learners globally. The Company provides enterprise learning solutions to prepare organizations for the future of work, enabling them to overcome critical skill gaps, drive demonstrable behavior-change, and unlock the potential in their greatest assets – their people. Skillsoft offers the world’s most comprehensive suite of premium and original content, including the broadest and deepest library of authorized technology & developer curricula, and multiple learning modalities that dramatically increase learner engagement and retention. Skillsoft’s offerings are anchored in Percipio, its award-winning, AI-driven, immersive learning platform designed to make learning easier, more accessible and more effective. Learn more at www.skillsoft.com.

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