Mattr Corp. Announces Pricing of Debt Subscription Receipts
Mattr Corp (TSX: MATR) has announced a private placement offering of 125,000 debt subscription receipts at $1,018.75 per receipt, yielding 6.375%, for gross proceeds of approximately $129.3 million. Each subscription receipt will convert into a 7.25% senior unsecured note due April 2, 2031, with a principal amount of $1,000.
The proceeds will partially fund the previously announced acquisition of AmerCable Incorporated, expected to close in Q1 2025. Following the issuance, $300 million aggregate principal amount of 7.25% senior unsecured notes will be outstanding. The offering, led by TD Securities and National Bank Financial Markets, is expected to close around December 19, 2024.
Mattr Corp (TSX: MATR) ha annunciato un'offerta di collocamento privato di 125.000 ricevute di sottoscrizione del debito a $1.018,75 ciascuna, con un rendimento del 6,375%, per un introito lordo di circa $129,3 milioni. Ogni ricevuta di sottoscrizione si convertirà in una nota non garantita senior al 7,25% con scadenza il 2 aprile 2031, per un importo principale di $1.000.
Il ricavato finanzierà parzialmente l'acquisizione precedentemente annunciata di AmerCable Incorporated, prevista per essere completata nel primo trimestre del 2025. A seguito dell'emissione, saranno in circolazione note non garantite senior per un importo principale aggregato di $300 milioni al 7,25%. L'offerta, guidata da TD Securities e National Bank Financial Markets, dovrebbe chiudersi intorno al 19 dicembre 2024.
Mattr Corp (TSX: MATR) ha anunciado una oferta de colocación privada de 125,000 recibos de suscripción de deuda a $1,018.75 cada uno, con un rendimiento del 6.375%, lo que representa ingresos brutos de aproximadamente $129.3 millones. Cada recibo de suscripción se convertirá en un bono senior no garantizado al 7.25% con vencimiento el 2 de abril de 2031, con un monto principal de $1,000.
Los ingresos financiarán parcialmente la adquisición previamente anunciada de AmerCable Incorporated, que se espera se cierre en el primer trimestre de 2025. Tras la emisión, habrá un monto principal agregado de $300 millones en bonos senior no garantizados al 7.25%. La oferta, liderada por TD Securities y National Bank Financial Markets, se espera que se cierre alrededor del 19 de diciembre de 2024.
Mattr Corp (TSX: MATR)는 $1,018.75의 가격으로 125,000개의 부채 구독 영수증을 포함하는 사모 배치를 발표했으며, 수익률은 6.375%로, 총 수익은 약 $129.3 백만입니다. 각 구독 영수증은 2031년 4월 2일 만기가 도래하는 7.25%의 비보장 고급 노트로 전환되며, 원금은 $1,000입니다.
이번 수익금은 2025년 1분기에 마감될 것으로 예상되는 AmerCable Incorporated의 인수를 부분적으로 자금을 지원할 것입니다. 발행 후에는 7.25%의 비보장 고급 노트가 총 $300 백만 원금 금액으로 남아 있게 됩니다. TD Securities와 National Bank Financial Markets가 주도하는 이번 제안은 2024년 12월 19일경에 마감될 것으로 예상됩니다.
Mattr Corp (TSX: MATR) a annoncé une offre de placement privé de 125 000 reçus de souscription de dette à 1 018,75 $ chacun, offrant un rendement de 6,375 %, pour des recettes brutes d'environ 129,3 millions $. Chaque reçu de souscription se convertira en une note non garantie senior de 7,25 % arrivant à échéance le 2 avril 2031, avec un montant principal de 1 000 $.
Les recettes financeront en partie l'acquisition précédemment annoncée d'AmerCable Incorporated, qui devrait être finalisée au premier trimestre 2025. Après l'émission, un montant principal agrégé de 300 millions $ de notes non garanties seniors sera en circulation. L'offre, dirigée par TD Securities et National Bank Financial Markets, devrait se clôturer aux alentours du 19 décembre 2024.
Mattr Corp (TSX: MATR) hat ein privates Platzierungsangebot von 125.000 Schuldenzeichnungsquittungen zu je 1.018,75 $ angekündigt, was einen Ertrag von 6,375 % ergibt, mit einem Bruttoerlös von etwa 129,3 Millionen $. Jede Schuldenzeichnungsquittung wird in eine 7,25 % nicht besicherte Senior-Anleihe mit Fälligkeit am 2. April 2031 umgewandelt, mit einem Nennbetrag von 1.000 $.
Die Einnahmen werden teilweise die zuvor angekündigte Übernahme von AmerCable Incorporated finanzieren, die im ersten Quartal 2025 abgeschlossen werden soll. Nach der Emission werden insgesamt Anleihen in Höhe von 300 Millionen $ mit 7,25 % ausstehen. Die von TD Securities und National Bank Financial Markets geleitete Angebotsrunde wird voraussichtlich rund am 19. Dezember 2024 abgeschlossen.
- Secured $129.3 million in gross proceeds through debt subscription receipts
- Strategic acquisition funding secured for AmerCable Incorporated purchase
- Fixed interest rate structure provides capital stability
- Additional debt burden with 7.25% interest rate until 2031
- Increased leverage through new debt issuance
TORONTO, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced today that it has entered into an underwriting agreement to sell, pursuant to a private placement offering (the “Offering”), 125,000 debt subscription receipts (the “Subscription Receipts”) at a price of
Mattr intends to use the net proceeds of the Offering to pay a portion of the purchase price for the Company’s previously announced indirect acquisition (the “Acquisition”) of all of the issued and outstanding shares of AmerCable Incorporated. Mattr expects the closing of the Acquisition to occur in the first quarter of 2025.
“This Offering provides continued capital structure stability and converts a portion of the anticipated AmerCable funding to fixed rates once closing conditions have been met,” said Tom Holloway, Mattr’s CFO. “We are deeply appreciative of the support and confidence of all investors and are excited by the additional balance sheet optionality created to continue our long-term value creation strategies.”
The Subscription Receipts are being offered through TD Securities and National Bank Financial Markets.
The Subscription Receipts will be offered for sale in Canada to accredited investors on a private placement basis, in accordance with Canadian securities laws. The Subscription Receipts have not been registered under the U.S. Securities Act, or any state securities laws, and are being offered and sold in the United States to qualified institutional buyers only, pursuant to Rule 144A of the U.S. Securities Act. The Subscription Receipts may be sold outside of the United States in accordance with Rule 903 of Regulation S under the U.S. Securities Act. Subject to customary closing conditions, the Offering is expected to close on or about December 19, 2024.
About Mattr
Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. Its two business segments: Composite Technologies and Connection Technologies, enable responsible renewal and enhancement of critical infrastructure while lowering risk.
For further information, please contact:
Meghan MacEachern
VP, External Communications & ESG
Telephone: 437.341.1848
Email: meghan.maceachern@mattr.com
Website: www.mattr.com
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate" or similar terminology are used to identify forward-looking information. This forward-looking information is based on assumptions, estimates and analysis made in light of the Company's experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. The forward-looking information is provided as of the date of this news release and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.
Source: Mattr Corp.
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