ATI Prices $450M 5.875% Senior Notes Due 2033, Redeems 2027 Debt
ATI•ATI Inc. priced a $450 million senior notes offering of 5.875% coupons due June 15, 2033, with semi-annual interest payments. It plans to allocate about $350 million net proceeds to redeem its outstanding 5.875% 2027 notes and will use any excess proceeds for general corporate purposes.
1. Senior Notes Offering Details
ATI Inc. has agreed to issue $450 million of 5.875% Senior Notes maturing June 15, 2033. The notes will carry a fixed annual coupon of 5.875%, payable semi-annually in arrears, adding to the company’s long-term debt profile.
2. Redemption Plan and Use of Proceeds
Approximately $350 million of the net proceeds will be deployed to redeem all outstanding 5.875% Senior Notes due 2027. Any remaining proceeds will support general corporate activities, bolstering liquidity and financial flexibility.
3. Offering Structure and Management
The debt securities are being offered under an effective shelf registration, with Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC serving as joint book-running managers and co-global coordinators. Sale will occur via a prospectus supplement and accompanying prospectus.
