ATI INC (ATI): debt financing — ATI closes $425M offering of 7.250% Senior Notes due 2030

ATI INC

$425M principal, 7.250% coupon, matures August 15, 2030.
Interest payable semi-annually on Feb 15 and Aug 15, starting Feb 15, 2024.
Redeemable at par plus premium prior to August 15, 2026; after at specified prices.
Up to 40% may be redeemed with equity offering proceeds before Aug 15, 2026 at 107.250%.
Issued under shelf registration; underwriting agreement with Citigroup as representative.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ATI INC incurred senior notes of $425 million aggregate principal amount with Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association at 7.250% per annum maturing August 15, 2030.

Instrument: senior notes
Principal: $425 million aggregate principal amount
Counterparty: Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association
Rate: 7.250% per annum
Maturity: August 15, 2030
Event: incurrence

Exact text from the filing

On August 11, 2023, ATI Inc. (the “Company”) completed its offering and sale of $425 million aggregate principal amount of the Company’s unsecured 7.250% Senior Notes due 2030 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ATI INC entered into Indenture with Computershare Trust Company, N.A. (effective 2021-09-14).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, N.A.
Effective: 2021-09-14

Exact text from the filing

The Notes were issued pursuant to the Indenture, dated as of September 14, 2021 (the “Indenture”), between the Company and Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, as trustee (the “Trustee”), as supplemented by the Second Supplemental Indenture, dated as of August 11, 2023

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ATI INC entered into Second Supplemental Indenture with Computershare Trust Company, N.A. valued at $425 million aggregate principal amount (effective 2023-08-11).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, N.A.
Value: $425 million aggregate principal amount
Effective: 2023-08-11

Exact text from the filing

On August 11, 2023, ATI Inc. (the “Company”) completed its offering and sale of $425 million aggregate principal amount of the Company’s unsecured 7.250% Senior Notes due 2030 (the “Notes”).

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Source: SEC EDGAR

accession 0001193125-23-210742

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