Matthews International Extends Credit Facility to 2029

Matthews International (MATW) has released an update to notify the public and investors about an entry into a material definitive agreement.

Matthews International Corporation has amended its loan and security agreement, extending the maturity date of its credit facility to January 2029, with interest rates linked to the Secured Overnight Financing Rate plus additional margins based on the company’s leverage. The amendment also increases the corporation’s letter of credit limit from $55 million to $75 million, with TD Bank joining Bank of America as a joint lead arranger. The total principal amount available remains at $750 million.

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For a comprehensive understanding of the announcement, you can read the full document here.