Minerals Technologies Inc. (NYSE: MTX) announced on October 1, 2026, the pricing of a private offering of $400 million in aggregate principal amount of senior notes. The notes, which carry a coupon rate of 7.500%, are set to mature in 2032. The offering is being conducted as a private placement exempt from registration requirements under the Securities Act of 1933.
The transaction is expected to close on October 13, 2026, subject to customary closing conditions. The notes will be guaranteed by the Company’s wholly owned domestic restricted subsidiaries that are obligors or guarantors under its senior secured credit facilities or certain other indebtedness. The initial offering price is set at 100.000% of the principal amount.
According to the company, the net proceeds from the sale of the notes, combined with existing cash on hand, are intended to be used for two primary purposes. First, the funds will be used to redeem all outstanding 5.000% senior notes due in 2028. Second, the company plans to use the remaining proceeds to pay transaction fees and expenses related to the offering and the concurrent amendment and extension of its revolving credit facility.
In connection with this financing, the company expects to amend its credit agreement. The amendment is anticipated to increase the size of the revolving credit facility to $500.0 million and extend the maturity date of the facility. The closing of the note offering is not contingent upon the completion of the credit agreement amendment, though the latter is subject to market and other conditions.
