debt
confidence high
sentiment neutral
materiality 0.82
Minerals Technologies prices $400 million 7.500% senior notes due 2032
MINERALS TECHNOLOGIES INC
- MTX priced $400M of 7.500% senior notes due 2032 at 100.000% of principal; offering expected to close October 13, 2026.
- Proceeds with cash on hand will redeem all outstanding 5.000% senior notes due 2028 and pay offering/credit amendment fees.
- Company expects credit agreement amendment to raise revolver to $500M and extend maturity; term loans are $575M.
- Commitments received cover full contemplated credit amendment; notes offering is not conditioned on that amendment closing.