ATI Announces Pricing of Senior Notes Offering
ATI (NYSE: ATI) priced a public offering of $450 million aggregate principal amount of 5.875% Senior Notes due 2033.
Rhea-AI Summary
ATI (NYSE: ATI) priced a public offering of $450 million aggregate principal amount of 5.875% Senior Notes due 2033. The notes pay interest semi-annually and mature on June 15, 2033, unless earlier redeemed.
ATI plans to use about $350 million of net proceeds to redeem all outstanding 5.875% Senior Notes due 2027, with any remaining proceeds for general corporate purposes. Goldman Sachs & Co. and J.P. Morgan are joint book-running managers and co-global coordinators.
Positive
- $450 million 5.875% senior notes due 2033 priced
- Approximately $350 million proceeds allocated to redeem 2027 notes
Negative
- Interest expense locked at 5.875% annually on $450 million notes
Details
News Market Reaction – ATI
In the Jun 4 session, ATI gained 0.64%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Senior notes offering
- $450 million
- Aggregate principal amount of 5.875% Senior Notes due 2033
- Coupon rate
- 5.875% per year
- Interest rate on new Senior Notes due 2033
- Redemption allocation
- $350 million
- Approximate net proceeds intended to redeem 5.875% Senior Notes due 2027
- 2027 notes principal
- $350.0 million
- Aggregate principal amount of 5.875% Senior Notes due 2027 to be redeemed
- Change of control price
- 101% of principal
- Repurchase price upon Change of Control Repurchase Event
- Proposed share sale
- 40,500 shares
- Common stock proposed for sale in one Form 144 filing
- Additional share sale
- 59,749 shares
- Common stock proposed for sale in another Form 144 filing
- Prior disposition proceeds
- $6,368,283.35
- Proceeds from 40,000-share disposition reported in Form 144
Historical Context
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CEO scheduled to speak at Bernstein Strategic Decisions Conference webcast.
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CEO Kimberly Fields became Board Chair following retirements of prior directors.
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Q1 2026 beat with higher margins, raised guidance, and extra $500M buyback.
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Announcement of timing and access details for Q1 2026 earnings call webcast.
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New $500M share repurchase authorization plus remaining $120M prior capacity.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
senior notes financial
prospectus supplement regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
ATI intends to use approximately
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as the joint book-running managers and co-global coordinators for the offering.
The offering of the Notes is being made pursuant to an effective shelf registration statement. The offering will be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from Goldman Sachs & Co. LLC, Attention: Registration Department, 200 West Street,
This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements in this news release relate to future events and expectations and, as such, constitute forward-looking statements. Forward-looking statements, which may contain such words as "anticipates," "believes," "estimates," "expects," "would," "should," "will," "will likely result," "forecast," "outlook," "projects," and similar expressions, are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which we are unable to predict or control. Our performance or achievements may differ materially from those expressed or implied in any forward-looking statements due to the following factors, among others: (a) material adverse changes in economic or industry conditions generally, including global supply and demand conditions and prices for our specialty materials; (b) material adverse changes in the markets we serve; (c) our inability to achieve the level of cost savings, productivity improvements, synergies, growth or other benefits anticipated by management from strategic investments and the integration of acquired businesses; (d) volatility in the price and availability of the raw materials that are critical to the manufacture of our products; (e) declines in the value of our defined benefit pension plan assets or unfavorable changes in laws or regulations that govern pension plan funding; (f) labor disputes or work stoppages; (g) equipment outages; (h) business and economic disruptions associated with extraordinary events beyond our control, such as war, terrorism, international conflicts, public health issues, such as epidemics or pandemics, natural disasters and climate-related events that may arise in the future; and (i) other risk factors summarized in our Annual Report on Form 10-K for the year ended December 28, 2025, and in other reports filed with the Securities and Exchange Commission. We assume no duty to update our forward-looking statements.
ATI: Proven to Perform.
ATI (NYSE: ATI) is a global producer of high performance materials and solutions for the global aerospace & defense markets, and critical applications in electronics, medical and specialty energy. We're solving the world's most difficult challenges through materials science. We partner with our customers to deliver extraordinary materials that enable their greatest achievements: their products fly higher and faster, burn hotter, dive deeper, stand stronger and last longer. Our proprietary process technologies, unique customer partnerships and commitment to innovation deliver materials and solutions for today and the evermore challenging environments of tomorrow. We are proven to perform anywhere.
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SOURCE ATI