[8-K] Materion Corporation Reports Material Event
Materion (NYSE:MTRN) filed an 8-K stating that on 26 Jun 2025 it executed a Fifth Amended & Restated Credit Agreement, replacing its 2021 facility.
The deal delivers a $450 million senior secured revolving credit facility plus a $225 million senior secured term loan; the term loan was fully drawn at closing. Both facilities mature on 26 Jun 2030.
Key provisions include a maximum net leverage ratio and minimum interest coverage ratio. The refinancing constitutes a direct financial obligation under Item 2.03 and is aimed at enhancing liquidity and strategic flexibility.
Materion (NYSE:MTRN) ha presentato un modulo 8-K dichiarando che il 26 giugno 2025 ha sottoscritto un Quinto Accordo di Credito Emendato e Ristabilito, sostituendo la sua linea di credito del 2021.
L'accordo prevede una linea di credito revolving senior garantita da 450 milioni di dollari e un prestito a termine senior garantito da 225 milioni di dollari; il prestito a termine 猫 stato interamente utilizzato al momento della chiusura. Entrambe le strutture scadono il 26 giugno 2030.
Le clausole principali includono un rapporto massimo di leva finanziaria netta e un rapporto minimo di copertura degli interessi. Il rifinanziamento rappresenta un obbligo finanziario diretto ai sensi del Punto 2.03 ed 猫 finalizzato a migliorare la liquidit脿 e la flessibilit脿 strategica.
Materion (NYSE:MTRN) present贸 un formulario 8-K indicando que el 26 de junio de 2025 ejecut贸 un Quinto Acuerdo de Cr茅dito Enmendado y Restablecido, reemplazando su l铆nea de cr茅dito de 2021.
El acuerdo incluye una l铆nea de cr茅dito revolvente garantizada senior de 450 millones de d贸lares y un pr茅stamo a plazo garantizado senior de 225 millones de d贸lares; el pr茅stamo a plazo fue utilizado en su totalidad al cierre. Ambas facilidades vencen el 26 de junio de 2030.
Las disposiciones clave incluyen un ratio m谩ximo de apalancamiento neto y un ratio m铆nimo de cobertura de intereses. La refinanciaci贸n constituye una obligaci贸n financiera directa seg煤n el Punto 2.03 y tiene como objetivo mejorar la liquidez y la flexibilidad estrat茅gica.
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Materion (NYSE:MTRN) a d茅pos茅 un formulaire 8-K indiquant que le 26 juin 2025, elle a conclu un cinqui猫me accord de cr茅dit modifi茅 et restitu茅, rempla莽ant sa facilit茅 de 2021.
L'accord comprend une facilit茅 de cr茅dit renouvelable garantie senior de 450 millions de dollars ainsi qu'un pr锚t 脿 terme garanti senior de 225 millions de dollars ; le pr锚t 脿 terme a 茅t茅 enti猫rement tir茅 脿 la cl么ture. Les deux facilit茅s arrivent 脿 茅ch茅ance le 26 juin 2030.
Les clauses cl茅s incluent un ratio maximal d'endettement net et un ratio minimal de couverture des int茅r锚ts. Le refinancement constitue une obligation financi猫re directe selon l'article 2.03 et vise 脿 am茅liorer la liquidit茅 et la flexibilit茅 strat茅gique.
Materion (NYSE:MTRN) hat in einem 8-K-Bericht mitgeteilt, dass am 26. Juni 2025 ein f眉nfter ge盲nderter und neu gefasster Kreditvertrag abgeschlossen wurde, der die Kreditfazilit盲t von 2021 ersetzt.
Das Abkommen umfasst eine 450 Millionen US-Dollar Senior besicherte revolvierende Kreditfazilit盲t sowie ein 225 Millionen US-Dollar Senior besichertes Term-Darlehen; das Term-Darlehen wurde bei Vertragsabschluss vollst盲ndig abgerufen. Beide Fazilit盲ten laufen am 26. Juni 2030 aus.
Zu den wesentlichen Bestimmungen geh枚ren ein maximaler Nettoverschuldungsgrad und ein minimaler Zinsdeckungsgrad. Die Refinanzierung stellt eine direkte finanzielle Verpflichtung gem盲脽 Punkt 2.03 dar und zielt darauf ab, die Liquidit盲t und strategische Flexibilit盲t zu verbessern.
- $675 million senior secured facilities extend maturity to 2030, strengthening liquidity and reducing near-term refinancing risk
- Immediate draw of the $225 million term loan increases secured leverage and introduces leverage and coverage covenants that could tighten flexibility in a downturn
Insights
TL;DR: New $675 M secured package extends tenor, lifts liquidity.
The $450 M revolver and $225 M term loan refinance Materion鈥檚 2021 facility, pushing maturity to 2030 and securing participation from five major lenders led by JPMorgan. Immediate full draw of the term loan raises gross debt but preserves full revolver availability for working-capital or M&A uses. Covenants鈥攎ax net leverage and minimum interest coverage鈥攁ppear customary for an industrial borrower and should be manageable given recent profitability. Although pricing is undisclosed, the multi-bank syndication suggests competitive terms. Overall, the agreement reduces near-term refinancing risk and provides dry powder, a net positive for credit profile and strategic optionality.
TL;DR: Liquidity up, leverage up鈥攐verall effect neutral.
Drawing the $225 M term loan increases secured debt, subordinating existing unsecured claims. The revolver can further ramp leverage to $675 M, and new covenants may constrain flexibility if earnings falter. Without rate or EBITDA disclosure, interest-coverage headroom is uncertain. The five-year tenor mitigates refinancing pressure, yet higher leverage introduces sensitivity to cyclical demand. Net impact balances added liquidity against credit risk, leaving the filing strategically important but financially neutral until more details emerge.
Materion (NYSE:MTRN) ha presentato un modulo 8-K dichiarando che il 26 giugno 2025 ha sottoscritto un Quinto Accordo di Credito Emendato e Ristabilito, sostituendo la sua linea di credito del 2021.
L'accordo prevede una linea di credito revolving senior garantita da 450 milioni di dollari e un prestito a termine senior garantito da 225 milioni di dollari; il prestito a termine 猫 stato interamente utilizzato al momento della chiusura. Entrambe le strutture scadono il 26 giugno 2030.
Le clausole principali includono un rapporto massimo di leva finanziaria netta e un rapporto minimo di copertura degli interessi. Il rifinanziamento rappresenta un obbligo finanziario diretto ai sensi del Punto 2.03 ed 猫 finalizzato a migliorare la liquidit脿 e la flessibilit脿 strategica.
Materion (NYSE:MTRN) present贸 un formulario 8-K indicando que el 26 de junio de 2025 ejecut贸 un Quinto Acuerdo de Cr茅dito Enmendado y Restablecido, reemplazando su l铆nea de cr茅dito de 2021.
El acuerdo incluye una l铆nea de cr茅dito revolvente garantizada senior de 450 millones de d贸lares y un pr茅stamo a plazo garantizado senior de 225 millones de d贸lares; el pr茅stamo a plazo fue utilizado en su totalidad al cierre. Ambas facilidades vencen el 26 de junio de 2030.
Las disposiciones clave incluyen un ratio m谩ximo de apalancamiento neto y un ratio m铆nimo de cobertura de intereses. La refinanciaci贸n constituye una obligaci贸n financiera directa seg煤n el Punto 2.03 y tiene como objetivo mejorar la liquidez y la flexibilidad estrat茅gica.
Materion (NYSE:MTRN)鞚� 2025雲� 6鞗� 26鞚检棎 鞝�5彀� 靾橃爼 氚� 鞛瀾靹� 鞁犾毄 瓿勳暯鞚� 觳搓舶頃橃棳 2021雲� 鞁滌劋鞚� 雽�觳错枅雼り碃 8-K 氤搓碃靹滊ゼ 鞝滌稖頄堨姷雼堧嫟.
鞚措矆 瓯半灅電� 4鞏� 5觳滊 雼煬 攴滊鞚� 靹犾垳鞙� 雼措炒 須岇爠 鞁犾毄 頃滊弰鞕赌 2鞏� 2觳� 5氚彪 雼煬 攴滊鞚� 靹犾垳鞙� 雼措炒 旮绊暅攵� 雽�於�鞚� 韽暔頃橂┌, 旮绊暅攵� 雽�於滌潃 瓿勳暯 觳搓舶 鞁� 鞝勳暋 鞚胳稖霅橃棃鞀惦媹雼�. 霊� 鞁滌劋 氇憪 2030雲� 6鞗� 26鞚检棎 毵岅赴臧� 霃勲灅頃╇媹雼�.
欤检殧 臁绊暛鞐愲姅 斓滊寑 靾� 霠堧矂毽 牍勳湪瓿� 斓滌唽 鞚挫瀽氤挫儊氚办湪鞚� 韽暔霅橃柎 鞛堨姷雼堧嫟. 鞚措矆 鞛湹鞛愲姅 頃 2.03鞐� 霐半ジ 歆侅爲 旮堨湹 鞚橂鞐� 頃措嫻頃橂┌, 鞙犽彊靹标臣 鞝勲灥鞝� 鞙犾棸靹� 臧曧檾毳� 氇╈爜鞙茧 頃╇媹雼�.
Materion (NYSE:MTRN) a d茅pos茅 un formulaire 8-K indiquant que le 26 juin 2025, elle a conclu un cinqui猫me accord de cr茅dit modifi茅 et restitu茅, rempla莽ant sa facilit茅 de 2021.
L'accord comprend une facilit茅 de cr茅dit renouvelable garantie senior de 450 millions de dollars ainsi qu'un pr锚t 脿 terme garanti senior de 225 millions de dollars ; le pr锚t 脿 terme a 茅t茅 enti猫rement tir茅 脿 la cl么ture. Les deux facilit茅s arrivent 脿 茅ch茅ance le 26 juin 2030.
Les clauses cl茅s incluent un ratio maximal d'endettement net et un ratio minimal de couverture des int茅r锚ts. Le refinancement constitue une obligation financi猫re directe selon l'article 2.03 et vise 脿 am茅liorer la liquidit茅 et la flexibilit茅 strat茅gique.
Materion (NYSE:MTRN) hat in einem 8-K-Bericht mitgeteilt, dass am 26. Juni 2025 ein f眉nfter ge盲nderter und neu gefasster Kreditvertrag abgeschlossen wurde, der die Kreditfazilit盲t von 2021 ersetzt.
Das Abkommen umfasst eine 450 Millionen US-Dollar Senior besicherte revolvierende Kreditfazilit盲t sowie ein 225 Millionen US-Dollar Senior besichertes Term-Darlehen; das Term-Darlehen wurde bei Vertragsabschluss vollst盲ndig abgerufen. Beide Fazilit盲ten laufen am 26. Juni 2030 aus.
Zu den wesentlichen Bestimmungen geh枚ren ein maximaler Nettoverschuldungsgrad und ein minimaler Zinsdeckungsgrad. Die Refinanzierung stellt eine direkte finanzielle Verpflichtung gem盲脽 Punkt 2.03 dar und zielt darauf ab, die Liquidit盲t und strategische Flexibilit盲t zu verbessern.
FAQ
How large is [[MTRN]]'s new credit facility announced on June 26 2025?
When does [[MTRN]]'s new credit agreement mature?
Did [[MTRN]] draw down the term loan portion immediately?
What financial covenants apply under [[MTRN]]'s new credit deal?
Why did [[MTRN]] refinance its credit facilities?
Which banks are leading [[MTRN]]'s new credit facilities?
