Mattr Corp. Announces Pricing of Upsized Senior Unsecured Notes Offering
19 3월 2024 - 8:30PM
Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced today
that it has entered into an underwriting agreement to sell,
pursuant to a private placement offering (the “Offering”), C$175
million aggregate principal amount of 7.25% senior unsecured notes
due 2031 (the “Notes”), which aggregate principal amount of notes
was upsized from the initial deal size of C$150 million. The Notes
will be issued at a price of C$1,000 per C$1,000 principal amount
of Notes.
“Over the last three years Mattr has completed a
fundamental business transformation while delivering substantial
growth and significantly strengthening our balance sheet. These
successes have positioned us to successfully complete today’s
Offering and we are deeply appreciative of the support and
confidence of all investors,” said Mike Reeves, Mattr’s President
and CEO. “This Offering provides capital structure stability and
flexibility for the company while lowering our cost of capital and
is an important step as we continue to execute our long-term value
creation strategies.”
Mattr intends to use the net proceeds of the
Offering to fund the redemption of its outstanding 9.00% senior
unsecured notes due 2026 (“2026 Notes”), to pay fees and expenses
related to the Offering and for general corporate purposes. Mattr
will issue a conditional notice to redeem C$150
million of its 2026 Notes at a redemption price of
104.50%, plus accrued and unpaid interest to, but not including the
redemption date (“Conditional Notice”). The redemption is expected
to be completed one business day following closing of the
Offering and is conditioned upon completion of the Offering.
This press release does not constitute a notice of redemption of
the 2026 Notes. Further information related to the terms and
conditions of the redemption of the 2026 Notes is described in the
Conditional Notice that will be distributed to holders of the 2026
Notes by TSX Trust Company as trustee. Beneficial holders with any
questions about the redemption should contact their respective
brokerage firm or financial institution.
The Notes are being offered through a syndicate
of underwriters led by National Bank Financial Markets and TD
Securities.
The Notes will be offered for sale in Canada to
accredited investors on a private placement basis, in accordance
with Canadian securities laws. The Notes have not been registered
under the U.S. Securities Act, or any state securities laws, and
are being offered and sold in the United States to qualified
institutional buyers only, pursuant to Rule 144A of the U.S.
Securities Act. The Notes may be sold outside of the United States
in accordance with Rule 903 of Regulation S under the U.S.
Securities Act. Subject to customary closing conditions, the
Offering is expected to close on or about April 2, 2024.
About MattrMattr is a
growth-oriented, global materials technology company broadly
serving critical infrastructure markets, including electrification,
transportation, communication, water management and
energy. Its two business segments, Composite Technologies and
Connection Technologies, operate a global network of manufacturing
and technology centers, delivering differentiated, high-value
products which enable responsible renewal and enhancement of
critical infrastructure while lowering risk and environmental
impact.
For further information, please contact:
Meghan MacEachernVP, External Communications & ESG
Telephone: 437.341.1848Email: meghan.maceachern@mattr.comWebsite:
www.mattr.com
Forward Looking InformationThis
news release contains forward-looking information within the
meaning of applicable securities laws. Words such as "may", "will",
"should", "anticipate", "plan", "expect", "believe", "predict",
"estimate" or similar terminology are used to identify
forward-looking information. This forward-looking information is
based on assumptions, estimates and analysis made in the light of
the Company's experience and its perception of trends, current
conditions and expected developments, as well as other factors that
are believed by the Company to be reasonable and relevant in the
circumstances. Forward-looking information involves known and
unknown risks, uncertainties and other factors which may cause
actual results, performance or achievements to be materially
different from those predicted, expressed or implied by the
forward-looking information. The forward-looking information is
provided as of the date of this news release and the Company does
not assume any obligation to update or revise the forward-looking
information to reflect new events or circumstances, except as
required by law.
Source: Mattr Corp.
MATTR (TSX:MATR)
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부터 10월(10) 2024 으로 11월(11) 2024
MATTR (TSX:MATR)
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부터 11월(11) 2023 으로 11월(11) 2024