Credit facility amendment and lower revolver capacity
Matthews International amended its bank credit facility via a Ninth Amendment to its Third Amended and Restated Loan and Security Agreement.
Revolver capacity cut to $650 million from $700 million.
Leverage covenant reset through Dec. 31, 2027, with a temporary maximum of 5.25x, stepping down to 4.75x.
Propelis joint venture interest excluded from leverage ratio during the relief period; post-period leverage cap set at 4.5x.
Foreign borrowing facility eliminated; Matthews Europe GmbH released as foreign borrower; foreign revolver and letters-of-credit limit reduced to $0 from $350 million.
MATW•
