Matthews enters commitment letter to up revolver by $350 million

By Jennifer Chiou

New York, March 19 - Matthews International Corp. entered into a commitment letter with RBS Citizens, NA to increase its revolving credit facility availability by $350 million, according to an 8-K filing with the Securities and Exchange Commission.

The commitment is in connection with the March 16 merger agreement between the company and Schawk, Inc. The company plans to use some of those proceeds to fund a part of the cash consideration for the merger.

Matthews is a designer, manufacturer and marketer of memorialization products and brand services. The company is based in Pittsburgh.

Schawk is a brand development company based in Des Plaines, Ill.

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