Mativ Holdings, Inc. announced the pricing of its previously proposed private offering of $400,000,000 in aggregate principal amount of 8.000% senior notes due 2029. The notes will be issued at a price equal to 100.000% of their principal amount.
The offering is expected to close on October 7, 2024, subject to customary closing conditions. The proceeds are designated to redeem the company's 6.875% Senior Notes due 2026 and to repay approximately $43 million of outstanding borrowings under its term loan B facility.
This pricing confirms the terms of Mativ's debt refinancing, which is a key component of its strategy to manage its balance sheet and extend debt maturities. The 8.000% interest rate reflects the cost of securing this longer-term financing.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.