Kennametal launches $300M tender for 4.625% notes due 2028; concurrent senior notes offering

KENNAMETAL INC

Company commenced cash tender offer for any and all of its $300M 4.625% Senior Notes due 2028; expires May 26, 2026.
Concurrent underwritten public offering of senior notes; proceeds to fund tender and for general corporate purposes.
Tender offer consideration based on fixed spread (30 bps) over 3.875% UST due 2028; settlement expected May 29, 2026.
Tender conditioned on sufficient gross proceeds from the concurrent notes offering on terms acceptable to the company.
BofA Securities is lead dealer manager; Global Bondholder Services is tender and information agent.

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