Mativ Holdings enters $894.9M refinancing amendment to credit facilities

Mativ Holdings, Inc.

Refinancing provides $305M revolver, $89.9M Term A, $500M Term B loans totaling ~$894.9M.
Interest margins: revolver/Term A based on Net Debt/EBITDA (1.75%-2.75%); Term B fixed 3.50%-4.50%.
Revolver/Term A mature at earlier of 5 years or 182 days before 2029 Senior Notes; Term B at 7 years or 91 days.
Covenants: min Interest Coverage 2.50x stepping to 3.00x; max Net Debt/EBITDA 5.00x stepping down to 4.00x, applying only to revolver/Term A.
Three U.S. subsidiaries added as borrowers; one subsidiary added as guarantor under amended credit agreement.

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