Materion extends credit agreement, adjusts pricing, raises accordion

By Tali Rackner

Norfolk, Va., Dec. 21 – Materion Corp. entered into an amendment to its $375 million credit agreement on Friday to extend the maturity to Dec. 18, 2020 from June 20, 2018, according to a press release.

The amendment also provides more favorable pricing and increases the credit agreement’s expansion option for additional uncommitted lines to up to $300 million from $100 million.

In addition, the amendment provides Materion and its subsidiaries with additional capacity to enter into facilities for the consignment, borrowing or leasing of precious metals and copper, and provides enhanced flexibility to finance acquisitions and other strategic initiatives.

Materion, formerly known as Brush Engineered Materials Inc., produces high-performance advanced engineered materials and is based in Mayfield Heights, Ohio.

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