Allegheny Technologies has raised $500 million in a sale of senior unsecured notes,
Reuters reports. Citigroup, JP Morgan, and Morgan Stanley were the active joint bookrunning managers for the deal.
The company intends to use net proceeds to fund the cash portion of the price to be paid for its acquisition of Ladish and pay related fees and expenses, adds RTT News. The notes carry a coupon rate of 5.950%, and are due to mature on Jan. 15, 2021.
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