Minerals Technologies Enters Material Agreement, Incurs Financial Obligation

TL;DR

MTX signed a big deal and took on debt. Details to follow.

AI Summary

Minerals Technologies Inc. entered into a material definitive agreement on November 26, 2024. The company also incurred a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details of the agreement and financial obligations are not provided in this filing.

Why It Matters

This filing indicates a significant new agreement and financial commitment for Minerals Technologies Inc., which could impact its future operations and financial standing.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting potential financial risks or opportunities that are not yet fully disclosed.

Key Players & Entities

• MINERALS TECHNOLOGIES INC (company) — Registrant
• November 26, 2024 (date) — Date of earliest event reported
• 622 Third Avenue, New York, NY 10017-6707 (address) — Principal Executive Offices
• 212-878-1800 (phone) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.10 — ange on which registered Common Stock, $0.10 par value MTX New York Stock Exchan
• $550,000,000 — ent provided for, among other things, a $550,000,000 senior secured term loan facility (the
• $300,000,000 — " Existing Term Loan Facility ") and a $300,000,000 senior secured revolving credit facilit
• $400,000,000 — facility with aggregate commitments of $400,000,000 (the " Refinancing Revolving Facility "
• $575,000,000 — facility with aggregate commitments of $575,000,000 (the " Refinancing Term Loan Facility "
• $50,000,000 — Senior Notes, all amounts in excess of $50,000,000 of the Senior Notes have been either (a
• $415,000,000 — gate amount of up to the greater of (x) $415,000,000 and (y) 100% of consolidated EBITDA for

Filing Documents

• form8-k.htm (8-K) — 39KB
• ex10-1.htm (EX-10.1) — 1550KB
• ex99-1.htm (EX-99.1) — 4KB
• image0.jpg (GRAPHIC) — 312KB
• 0000950157-24-001564.txt ( ) — 2446KB
• mtx-20241126.xsd (EX-101.SCH) — 4KB
• mtx-20241126_lab.xml (EX-101.LAB) — 21KB
• mtx-20241126_pre.xml (EX-101.PRE) — 16KB
• form8-k_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement On November 26, 2024, Minerals Technologies Inc., a Delaware corporation (the " Company "), entered into a Refinancing Facility Agreement and Incremental Facility Amendment (the " Amendment ") to amend the credit agreement dated as of May 9, 2014 (as amended by the Refinancing Facility Agreement, dated as of June 23, 2015, the Second Amendment, dated as of February 14, 2017, the Third Amendment and Incremental Facility Amendment, dated as of April 18, 2018, and the Refinancing Facility Agreement, dated as of August 11, 2022, and as further amended, supplemented, modified, restated, amended and restated or otherwise modified from time to time as of the date hereof, the " Existing Credit Agreement "), among the Company, the borrowing subsidiaries party thereto, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (in such capacities, the " Administrative Agent "), and the other agents party thereto (the Existing Credit Agreement, as amended by the Amendment, the " Amended Credit Agreement "). The Existing Credit Agreement provided for, among other things, a $550,000,000 senior secured term loan facility (the " Existing Term Loan Facility ") and a $300,000,000 senior secured revolving credit facility (the " Existing Revolving Facility "). The Amendment provides for, among other things, a new senior secured revolving credit facility with aggregate commitments of $400,000,000 (the " Refinancing Revolving Facility "), a portion of which may be used for the issuance of letters of credit and swingline loans, and a new senior secured term loan facility with aggregate commitments of $575,000,000 (the " Refinancing Term Loan Facility "). The Refinancing Revolving Facility and the Refinancing Term Loan Facility replace the Existing Revolving Facility and the Existing Term Loan Facility, respectively. The maturity date for loans and commitments under the Refinancing Revolving

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation The items referred to under Item 1.01 above are incorporated herein by reference.

01. Other Events

Item 8.01. Other Events On November 26, 2024, the Company issued a press release announcing the Amendment and the Amended Credit Agreement. The full text of the press release is included as Exhibit 99.1 to this Current Report on Form 8-K.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 10.1* Refinancing Facility Agreement and Incremental Facility Amendment dated as of November 26, 2024, among Minerals Technologies Inc., certain subsidiaries party thereto, the lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent. 99.1 Press Release dated November 26, 2024. 104 Cover Page Interactive Data File (formatted as inline XBRL) *Pursuant to item 601(a)(5) of Regulation S-K, certain exhibits and schedules to this agreement have been omitted. The registrant agrees to furnish supplementally to the Securities and Exchange Commission a copy of any omitted exhibit or schedule upon request by the Securities and Exchange Commission.

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. MINERALS TECHNOLOGIES INC. Date: November 26, 2024 By: /s/ Timothy J. Jordan Name: Timothy J. Jordan Title: Vice President, General Counsel, Secretary and Chief Compliance Officer

View Full Filing

View this 8-K filing on SEC EDGAR