Matthews International prices $300M of 8.625% senior secured notes due 2027 to redeem 2025 notes

MATTHEWS INTERNATIONAL CORP

Issued $300M aggregate principal amount of 8.625% senior secured second lien notes due Oct 1, 2027.
Interest payable semi-annually on Apr 1 and Oct 1, beginning Apr 1, 2025.
Net proceeds of ~$296M, together with credit facility borrowings, to redeem all outstanding 5.25% senior notes due Dec 1, 2025 on ~Oct 24, 2024.
Sixth Amendment to credit agreement permits second lien on substantially all U.S. guarantor assets; $750M credit facility unchanged.
Offering expected to close Sep 27, 2024.

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