Matthews International Announced A Proposed Private Offering Of Senior Secured Second Lien Notes Due 2027
Portfolio Pulse from Benzinga Newsdesk
Matthews International Corporation (NASDAQ: MATW) announced a proposed private offering of senior secured second lien notes due 2027. The company plans to amend its senior credit facility to secure these notes and use the proceeds to redeem its existing 5.25% senior notes due 2025.
September 23, 2024 | 12:25 pm
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Matthews International is proposing a private offering of senior secured second lien notes due 2027. The proceeds will be used to redeem existing 5.25% senior notes due 2025, potentially improving the company's debt profile.
The proposed offering of new notes and the redemption of existing notes suggest a strategic move to manage debt, which could be seen positively by investors. The company's intention to secure the new notes with a second priority lien and amend its credit facility indicates a proactive approach to financial management.
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