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Matthews International closes $500 million five-year revolver
By Susanna Moon
Chicago, July 22 - Matthews International Corp. obtained a $500 million five-year revolving credit facility on Thursday, according to an 8-K filing with the Securities and Exchange Commission.
RBS Citizens, NA and PNC Capital Markets LLC are the joint lead arrangers and bookrunners.
Interest on the loans ranges from Libor plus 75 basis points to Libor plus 125 bps, based on leverage. The unused fee is 15 bps to 25 bps.
The company may use up to $30 million of the revolver for the issuance of trade and standby letters of credit.
Citizens Bank of Pennsylvania is the administrative agent; Fifth Third Bank is the documentation agent; and PNC Bank, NA is the syndication agent.
Matthews is a designer, manufacturer and marketer of memorialization products and brand solutions. The company is based in Pittsburgh.
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