Mativ Holdings Prices $500 Million Junk Loan at Steep Discount

Banks led by JPMorgan Chase & Co. have sold 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.