(RTTNews) - Matthews International Corp. (MATW) announced on Monday a proposed private offering of senior secured second lien notes due 2027.
At or prior to the closing of the offering of the notes, the company intends to amend its senior credit facility to permit the notes to be secured by a second priority lien.
Matthews intends to use the net proceeds of the offering, together with borrowings, to redeem all of its outstanding 5.25 percent senior notes due December 1, 2025, on or about October 25, 2024.
The proceeds will also be used to pay accrued and unpaid interest on the existing 2025 notes.
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