Mattr Corp. Upsizes Senior Notes Offering

ShawCor Ltd. (TSE:MATR) has released an update.

Mattr Corp. has announced the private placement of C$175 million in 7.25% senior unsecured notes due 2031, an increase from the initially planned C$150 million. The proceeds are aimed at the redemption of higher-interest 2026 notes, contributing to a stronger balance sheet and supporting Mattr’s long-term strategies. The offering, led by top financial institutions, targets accredited Canadian investors and qualified institutional buyers in the United States, with a closing date anticipated around April 2, 2024.

For further insights into TSE:MATR stock, check out TipRanks’ Stock Analysis page.