Mativ amends A/R securitization facility to facilitate Engineered Papers sale

Mativ Holdings, Inc.

Amendment repurchases all receivables from Mativ Receivables LLC, the bankruptcy-remote subsidiary.
Mativ ceases to be an originator but remains servicer and performance guarantor; ownership of subsidiary assigned to Neenah, Inc.
Maximum Net Debt to EBITDA ratio aligned with the First Lien Credit Agreement level.
Amendment dated October 20, 2023; counterparties include PNC Bank and other purchasers.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Mativ Holdings, Inc. amended Amended A/R Facility with certain purchasers under the accounts receivable securitization facility (effective 2023-10-20).

Action: amendment
Agreement: credit facility
Counterparty: certain purchasers under the accounts receivable securitization facility
Effective: 2023-10-20

Exact text from the filing

On October 20, 2023, Mativ Holdings, Inc., a Delaware corporation (the “ Company ”), and the purchasers under the Company’s accounts receivable securitization facility, entered into an amendment to the Company’s accounts receivable securitization facility (the “ Amended A/R Facility ”)

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Mativ Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-263162

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