Allegheny Technologies Inc. intends to offer, subject to market and other conditions, a series of senior notes. The company plans to use the proceeds, together with cash on hand, to fund a redemption of all of ATI’s outstanding 5.950 percent senior notes due 2021, of which $500 million is outstanding.
BofA Securities Inc. and Citigroup Global Markets Inc. are acting as the joint book-running managers for the offering.
Pittsburgh-headquartered ATI is a global manufacturer of technically advanced specialty materials and complex components, with annual revenues of $4.1 billion. The company’s largest markets are aerospace & defense, with a strong presence in the oil & gas, energy, medical, automotive and other industrial markets.
