Matthews International issues $300M 8.625% notes due 2027, redeems existing 2025 notes

MATTHEWS INTERNATIONAL CORP

Issued $300M aggregate principal of 8.625% Senior Secured Second Lien Notes due October 1, 2027.
Proceeds combined with credit facility borrowings used to redeem all outstanding 5.250% Senior Notes due 2025 on Oct 24, 2024.
Notes pay interest semi-annually starting April 1, 2025; callable at 104.313% in 2025, par thereafter.
Indenture restricts additional debt, dividends, asset sales, etc.; investment-grade ratings trigger covenant suspension.
CEO says offering oversubscribed, provides flexibility for strategic plans and maintains financial stability.

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