Mativ Holdings Prices $500 Million Junk Loan at Steep Discount
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Mativ Holdings Inc. has priced a $500 million leveraged loan at a significant discount, led by JPMorgan Chase & Co. The loan, aimed at refinancing existing debt, was set at 4.5 percentage points over the benchmark and 95 cents on the dollar, reflecting waning investor demand for risky debt amid market volatility. This year, only two US leveraged loans have been priced at deeper discounts. Mativ faces challenges with a heavy debt load and weak demand in certain industrial sectors.
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