Schweitzer-Mauduit International, Inc. SWM Holdco 1 S.A.R.L and SWM Luxembourg S.A.R.L Enters into First Amendment to the Second Amended and Restated Credit Agreement
January 20, 2017 at 04:52 pm EST
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Schweitzer-Mauduit International, Inc. together with SWM Holdco 1 S.a.r.l., and SWM Luxembourg S.a.r.l., a Luxembourg limited liability company, both wholly-owned subsidiaries of the company, entered into a First Amendment to the Second Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., in its capacity as administrative agent for JPMorgan Chase Bank, N.A., Bank of America, N.A., Fifth Third Bank, SunTrust Bank, AgFirst Farm Credit Bank, Citizens Bank, N.A., MUFG Union Bank, N.A., Citibank, N.A., Farm Credit Bank of Texas, Farm Credit Mid America, PCA and Societe Generale the material provision of which is effective upon the closing of the Transaction on January 20, 2017. The Second Amended and Restated Credit Agreement, dated as of October 28, 2015 provides for credit facilities in the aggregate principal amount of $1 billion, consisting of a $650 million revolving credit facility and $350 million in term loans. Effective upon the closing of the Transaction, the Credit Agreement Amendment increases the permitted maximum net debt to EBITDA ratio. The Credit Agreement Amendment also contains representations and warranties which are customary for facilities of this type.
Mativ Holdings, Inc. is a specialty materials company, which offers a range of critical components and engineered solutions. The Company manufactures through its family of business-to-business and consumer product brands. It targets applications across diversified end-markets, from filtration to healthcare to sustainable packaging and others. Its portfolio of technologies combines polymers, fibers, and resins to optimize the performance of its customers products across multiple stages of the value chain. The Company operates through two segments: Filtration and Advanced Materials, and Sustainable & Adhesive Solutions. Filtration and Advanced Materials segment is focused primarily on filtration and protective solutions end markets. Sustainable & Adhesive Solutions segment is focused primarily on release liner, industrials, healthcare, and packaging and specialty papers end markets.
Schweitzer-Mauduit International, Inc. SWM Holdco 1 S.A.R.L and SWM Luxembourg S.A.R.L Enters into First Amendment to the Second Amended and Restated Credit Agreement