Matthews International Corporation (NASDAQ GSM: MATW) announced a proposed private offering of senior secured second lien notes due 2027. The company intends to use the net proceeds of the offering, along with borrowings under its senior credit facility, to redeem all of its outstanding 5.25% senior notes due December 1, 2025 (the “existing 2025 notes”) on or about October 25, 2024, and to pay accrued and unpaid interest on the existing 2025 notes to, but not including, the date of redemption, and to satisfy and discharge the indenture governing the existing 2025 notes.
The new notes have not been and will not be registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and will be offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A of the Securities Act and outside the United States in reliance on Regulation S of the Securities Act.
This press release does not constitute a notice of redemption with respect to, or an offer or solicitation to purchase, the existing 2025 notes or any other securities.
The press release did not include specific financial metrics or data to compare the proposed offering with the existing financial situation of the company. Today the company's shares have moved -0.6% to a price of $23.21. If you want to know more, read the company's complete 8-K report here.
