Mativ (MATV) Prices $400M Notes Offering

Mativ Holdings, Inc. (NYSE: MATV) today announced that it has priced its previously announced private offering of $400,000,000 in aggregate principal amount of its 8.000% senior notes due 2029 (the “Notes”). The Notes will bear interest at an annual rate of 8.000% and will be issued at a price equal to 100.000% of the principal amount thereof. The offering is expected to close on October 7, 2024, subject to customary closing conditions.

The Notes will be senior unsecured obligations of the Company and will be guaranteed by each of the Company’s existing and future wholly owned subsidiaries that is a borrower under or that guarantees obligations under its credit agreement or that guarantees certain other indebtedness, subject to certain exceptions.

The Company intends to use the net proceeds from the offering (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.

The Notes and the related guarantees were offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act. The Notes and the related guarantees have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements under the Securities Act and any applicable securities laws of any other jurisdiction.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sales would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. This press release does not constitute an offer to redeem or sell any of the 2026 Notes and does not constitute a notice of redemption of the 2026 Notes or satisfaction and discharge of the related indenture.

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