Atkore Announces Refinancing of Existing Senior Secured Term Loan
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HARVEY, Ill.--(BUSINESS WIRE)--
Atkore Inc. (the “Company”) (NYSE: ATKR), a leading manufacturer of electrical products for commercial, industrial, data center, telecommunications, and solar applications, today announced that it had completed the refinancing of the senior secured term loan facility of its subsidiary, Atkore International, Inc. (“AII”), which had been scheduled to mature in May 2028. The Company replaced the existing term loan facility with a new $373 million senior secured term loan facility of AII that matures on the earlier of (i) September 29, 2032 and (ii) the date that is 91 days prior to the maturity of the Company’s existing senior notes due June 1, 2031 if more than $100 million of such senior notes remains outstanding as of such date. Borrowings under the new term loan facility bear interest at the rate of either Term SOFR (with a floor of 0%) plus 2.00%, or an alternate base rate (with a floor of 1.5%) plus 1.00%. Proceeds of the new term loan facility were used to fund the repayment of the existing term loan facility and to pay related fees and expenses.
About Atkore Inc.
Atkore is a leading manufacturer of electrical products for commercial, industrial, data center, telecommunications, and solar applications. With 5,600 employees and $3.2B in sales in fiscal year 2024, we deliver sustainable solutions to meet the growing demands of electrification and digital transformation. To learn more, please visit www.atkore.com.
Dissemination of Company Information
Atkore intends to make future announcements regarding company developments and financial performance through its website, www.atkore.com, as well as through press releases, filings with the Securities and Exchange Commission, conference calls, media broadcasts, and webcasts.
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