Matthews International amends credit agreement, cuts revolver to $650 million from $700 million
Matthews International entered a Ninth Amendment to its credit agreement on September 1, 2026, aligning the facility with its structure after recent divestitures. The revolving credit facility shrinks to $650 million from $700 million, a Foreign Borrower sub-limit falls from $350 million to $0.00, and the Company gets temporary covenant relief tied to its 40% Propelis Joint Venture interest through December 31, 2027.
Key points
- Revolving credit facility reduced to $650 million from $700 million
- Matthews Europe GmbH released from the Credit Agreement; Foreign Borrower limit cut to $0.00 from $350 million
- Covenant Relief Period runs through December 31, 2027; maximum Leverage Ratio of 5.25 to 1.00 for quarters ending September 30, 2026 through June 30, 2027
- Leverage Ratio steps down to 4.50 to 1.00 after the relief period ends; 0.50 reduction applies if Propelis is sold
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:07 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 04, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.