2023-08-07 16:21:34 ET
- ATI Inc ( NYSE: ATI ) on Monday said it has agreed to sell $425,000,000 aggregate principal amount of 7.25% senior notes due 2030.
- The principal amount of the offering was increased from the previously announced offering size of $400,000,000.
- The Notes will pay interest semi-annually in arrears at a rate of 7.25% per year and will mature on August 15, 2030, unless earlier redeemed or repurchased.
- ATI intends to use up to about $300M of the net proceeds to fund its pension liabilities and to implement pension de-risking strategies, potentially including annuitizations.
- The remaining net proceeds will be used for liquidity and general corporate purposes.
- ATI closed +2.08% at $44.55.
- Source: Press Release
For further details see:
ATI announces pricing of senior notes offering