Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Matson, Inc. > News item |
Matson eases covenants under bank revolver, private debt
By Wendy Van Sickle
Columbus, Ohio, April 6 – Matson, Inc. amended its $650 million revolving credit facility and private lender note agreements to enhance its liquidity position amid the Covid-19 pandemic, according to a news release.
Under the debt amendments, Matson will be permitted to increase its total debt-to-EBITDA, as defined in the debt agreements, to between 4x and 5x in each of the next seven quarters through Dec. 30, 2021 in return for a higher interest rate on the bank credit facility and higher coupon payments on the private lender notes.
Honolulu-based Matson is a carrier in the Pacific.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.