Skillsoft Corp.(Skillsoft or the Company) announced that 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 Companys existing term loan facilities, thereby reducing long-term debt by approximately $130 million. The new term loan B facility reduces Skillsofts interest rate by 300 basis points and extends its maturity from 2025 to 2028. Together, the refinancing and debt paydown will decrease the Companys annual interest payments by approximately $25 million. As a result of the refinancing and debt paydown, the Company has $480 million of long-term debt outstanding.