Mattr Corp. Announces Pricing of Debt Subscription Receipts
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Mattr Corp. has announced a private placement offering of 125,000 debt subscription receipts, priced at $1,018.75 each, with a yield to maturity of 6.375%. The offering is expected to raise approximately $129.3 million. Upon meeting certain conditions, these receipts will convert into 7.25% senior unsecured notes due in 2031.
December 06, 2024 | 12:45 pm
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Mattr Corp. is conducting a private placement of debt subscription receipts to raise $129.3 million. These will convert into 7.25% senior unsecured notes due 2031, potentially impacting the company's credit profile and financial strategy.
The issuance of debt subscription receipts and subsequent conversion into senior unsecured notes indicates a strategic move to raise capital. This could improve Mattr Corp.'s liquidity and financial flexibility, potentially leading to a positive short-term impact on its stock price.
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