Mativ Holdings, Inc. announced a proposed private offering of $400,000,000 in aggregate principal amount of senior notes due 2029. These notes will be senior unsecured obligations of the company and guaranteed by its existing and future wholly-owned subsidiaries.
The company intends to use the net proceeds from this offering to redeem its 6.875% Senior Notes due 2026. Additionally, approximately $43 million aggregate principal amount of outstanding borrowings under its term loan B facility will be repaid.
This financing move aims to extend debt maturities and reduce current borrowings, which can enhance Mativ's balance sheet structure and provide greater financial stability by pushing out significant debt obligations.
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