Mativ Holdings Enters New Credit Agreement

TL;DR

Mativ just signed a new credit deal, likely impacting their debt and cash flow.

AI Summary

On October 7, 2024, Mativ Holdings, Inc. entered into a material definitive agreement, specifically a credit agreement. This agreement creates a direct financial obligation for the registrant, indicating a new or modified debt arrangement. The filing also includes financial statements and exhibits related to this event.

Why It Matters

This filing signals a significant change in Mativ Holdings' financing structure, which could impact its operational flexibility and financial leverage.

Risk Assessment

Risk Level: medium — Entering into new credit agreements can introduce financial obligations and potential risks related to debt servicing and covenants.

Key Players & Entities

• Mativ Holdings, Inc. (company) — Registrant
• October 7, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.10 — nge on which registered Common Stock, $0.10 par value MATV New York Stock Excha
• $400,000,000 — reviously announced private offering of $400,000,000 of its 8.000% Senior Notes due 2029 (th
• $43 million — Notes") and (ii) to repay approximately $43 million aggregate principal amount of outstandi

Filing Documents

• d811403d8k.htm (8-K) — 34KB
• d811403dex41.htm (EX-4.1) — 743KB
• 0001193125-24-233783.txt ( ) — 1068KB
• matv-20241007.xsd (EX-101.SCH) — 3KB
• matv-20241007_lab.xml (EX-101.LAB) — 18KB
• matv-20241007_pre.xml (EX-101.PRE) — 11KB
• d811403d8k_htm.xml (XML) — 4KB

Use of Proceeds

Use of Proceeds The Company expects to use the net proceeds from the offering of the Notes (i) to redeem its 6.875% Senior Notes due 2026 ("2026 Notes") and (ii) to repay approximately $43 million aggregate principal amount of outstanding borrowings under the term loan B facility under its credit agreement. Certain of the initial purchasers and their affiliates have engaged, and may in the future engage, in investment banking, commercial banking and other financial advisory and commercial dealings with the Company and its affiliates, for which they have received and may continue to receive customary fees and reimbursements of expenses. Certain of the initial purchasers and/or their affiliates are lenders and/or agents under the Company's senior credit facilities and/or holders of the 2026 Notes and, accordingly, will receive a portion of the net proceeds from the offering. The preceding description of the Indenture and the Notes does not purport to be complete and is qualified in its entirety by the terms and conditions of the Indenture and the Notes, which are filed as Exhibit 4.1 hereto and incorporated herein by reference. This Current Report on Form 8-K does not constitute an offer to redeem or sell any of the 2026 Notes and does not constitute an offer to purchase the 2026 Notes or a notice of satisfaction and discharge with respect to the 2026 Notes. Item2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03. Item9.01

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits Exhibit No. Description of Exhibit 4.1 Indenture, dated as of October 7, 2024, among Mativ Holdings, Inc., the guarantors listed therein and Wilmington Trust, National Association (including the form of Note attached as an exhibit thereto). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MATIV HOLDINGS, INC. (Registrant) By: /s/ Greg Weitzel Greg Weitzel Executive Vice President and Chief Financial Officer Dated: October 7, 2024

View Full Filing

View this 8-K filing on SEC EDGAR