ATI Inc. has announced that it has successfully upsized and priced its public offering of senior notes. The company will sell $425,000,000 aggregate principal amount of 7.25% Senior Notes due 2030. The offering size was increased from the previously announced $400,000,000.
The Notes will pay interest semi-annually at a rate of 7.25% per year and will mature on August 15, 2030. The net proceeds will be used to fund pension liabilities and implement pension de-risking strategies, as well as for liquidity and general corporate purposes.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, and J. P. Morgan Securities LLC are acting as the joint book-running managers for the offering. The offering is made pursuant to an effective shelf registration statement and will be made through a prospectus supplement and accompanying prospectus.
ATI Inc. emphasizes that this news release does not constitute an offer to sell or a solicitation of an offer to buy. The company also mentions that the forward-looking statements contained in this release are based on management’s current expectations and include known and unknown risks and uncertainties. Factors such as economic or industry conditions, market changes, raw material availability and pricing, and labor disputes may affect the company’s performance and achievements.
About ATI Inc.:
ATI Inc. is a global producer of high-performance materials and solutions for the aerospace and defense markets, electronics, medical, and specialty energy applications. They partner with customers to deliver extraordinary materials that enable great achievements. Their proprietary process technologies, customer partnerships, and commitment to innovation allow them to provide materials and solutions for today’s challenges and the challenges of the future.
