Mativ Holdings, Inc. (NYSE: MATV) has announced a proposed private offering of $400 million in aggregate principal amount of senior notes due 2029. The company intends to use the net proceeds from the offering to redeem its 6.875% senior notes due 2026 and to repay approximately $43 million aggregate principal amount of outstanding borrowings under the term loan B facility under its credit agreement.
In the most recent period, Mativ's two operating segments, Filtration & Advanced Materials and Sustainable & Adhesive Solutions, have demonstrated strong performance. The company generates sales in over 100 countries through its family of business-to-business and consumer product brands.
The proposed private offering of senior notes is part of the company's strategy to manage its debt and strengthen its financial position. This move reflects Mativ's commitment to optimizing its capital structure and ensuring financial flexibility.
As a global leader in specialty materials, Mativ Holdings, Inc. continues to focus on engineering innovative solutions that connect, protect, and purify the world. The company's broad portfolio of technologies, including polymers, fibers, and resins, enables it to optimize the performance of its customers' products across multiple stages of the value chain.
The offering of senior notes underlines Mativ's dedication to driving innovation, enhancing performance, and maintaining leading positions in the market. It also signifies the company's confidence in its ability to navigate current market conditions and pursue strategic initiatives for sustainable growth. Today the company's shares have moved -5.1% to a price of $18.01. Check out the company's full 8-K submission here.
