Matthews International gets $785 million credit facilities

By Sara Rosenberg

New York, March 30 – Matthews International Corp. closed on $785 million of amended and restated senior secured credit facilities on Friday, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Citizens Bank, PNC Capital Markets LLC, SunTrust Robinson Humphrey Inc., JPMorgan Chase Bank and Wells Fargo Securities LLC acted as the joint lead arrangers and bookrunners on the deal. Citizens is the administrative agent.

The facilities consist of a $35 million term loan due July 1, 2021 and a $750 million revolver due March 27, 2025.

Pricing on the term loan and revolver can range from Libor plus 75 basis points to 200 bps based on secured leverage.

The revolver commitment fee can range from 15 bps to 30 bps based on leverage.

Proceeds were used to refinance existing bank debt.

Matthews is a Pittsburgh-based provider of brand solutions, memorialization products and industrial technologies.

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