Financing ·
Matthews International Corporation entered into a Ninth Amendment to its Credit Agreement on September 1, 2026…
MATWMatthews International Corp
Matthews International Corporation entered into a Ninth Amendment to its Credit Agreement on September 1, 2026, aligning loan terms with recent divestitures. The amendment excludes the company's 40% interest in the Propelis Joint Venture from leverage ratio calculations during a Covenant Relief Period ending December 31, 2027. Leverage ratios are temporarily relaxed to 5.25:1 through June 2027, tightening to 4.50:1 thereafter. The revolving credit facility's aggregate principal amount was reduced from $700 million to $650 million, and Matthews Europe GmbH was released as a Foreign Borrower, eliminating the $350 million foreign borrowing capacity. This company operates in the industrial manufacturing sector, producing specialized vehicles, security systems, and funeral service equipment.