Financing ·
Minerals Tech completes $400M offering of 7.5% Senior Notes due 2032 to refinance debt
MTXMinerals Technologies Inc
Minerals Technologies Inc. completed the issuance of $400,000,000 aggregate principal amount of its 7.500% Senior Notes due 2032 on October 13, 2026. The company intends to use the net proceeds from this offering, combined with existing cash reserves, to redeem all outstanding 5.000% senior notes due 2028 and cover transaction fees associated with the new debt issuance and a related credit facility amendment. Concurrently, the firm entered into an amended credit agreement that establishes a new $500,000,000 senior secured revolving credit facility to replace its existing $400,000,000 revolving facility, while maintaining the terms of its existing term loan facility. Minerals Technologies Inc. operates in the specialty chemicals and materials industry, providing performance additives for industrial applications.