debt
confidence high
sentiment neutral
materiality 0.40
Atkore gives conditional notice to redeem $400M 4.25% notes due 2031 at 102.125%, tied to Prysmian merger
Atkore Inc.
- Notice covers all $400,000,000 aggregate principal of 4.25% Senior Notes due 2031 at 102.125% of principal, or $1,021.25 per $1,000, plus accrued interest to the redemption date.
- Redemption date is October 19, 2026, and is conditioned on closing the merger of Trinity Merger Sub, Inc. into Atkore under the Aug. 2, 2026 Merger Agreement with Prysmian S.p.A.
- Second condition: Prysmian must fund the Trustee with amounts sufficient to effect the redemption per Section 6.14(b) of the Merger Agreement, including trustee fees and expenses.
- Atkore may delay the redemption date or rescind the notice, and says there can be no assurances the conditions precedent will be satisfied or that the redemption will occur.