ATI Inc. Plans New Senior Notes Offering

By Chris Stiles • Wednesday, June 03 13:04 • Permanent Link

ATI Inc. said it plans to issue a new seven-year senior notes offering and use the proceeds to retire its outstanding 5.875% senior notes due 2027.

The company said the new debt would replace the 2027 notes, with any remaining proceeds directed to general corporate purposes. ATI did not disclose the size of the offering in the release.

Goldman Sachs and J.P. Morgan are serving as joint book-running managers and co-global coordinators for the transaction. The offering will be made through a prospectus supplement and accompanying prospectus under ATI’s existing shelf registration.

ATI’s current notes targeted for redemption carry a 5.875% coupon and mature in 2027. The market has reacted to these announcements by moving the company's shares -0.63% to a price of $177.355. For more information, read the company's full 8-K submission here.

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