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Mativ Holdings Prices $500 Million Junk Loan at Steep Discount

John McCrank
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JPMorgan Chase led a syndicate that sold a $500 million leveraged loan for Mativ Holdings Inc., pricing it at a steep discount amid weak investor demand for high-risk debt. The loan, issued March 2026, carries a 4.5% spread over the benchmark and was sold at 95 cents on the dollar, reflecting one of the year’s largest discounts. Proceeds will refinance existing debt for Mativ, a specialty materials producer facing volatile market conditions that have dampened appetite for junk-rated loans. The deal underscores broader challenges in the leveraged finance market, where rising interest rates and economic uncertainty have made investors more cautious about speculative-grade borrowers. Analysts view the steep discount as a sign of strained liquidity for lower-rated companies, potentially signaling tighter credit conditions ahead for similar issuers.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Banks led by JPMorgan Chase & Co. have soldBloomberg Terminal a $500 million leveraged loan for Mativ Holdings Inc. at one of the biggest discounts so far this year, as investor demand for risky debt wanes amid volatile markets.The loan, which will refinance debt for the specialty materials producer, was priced Monday at 4.5 percentage points over the benchmark and 95 cents on the dollar, according to a person with direct knowledge of the matter.

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Source: Bloomberg

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