Allegheny Technologies to price $300 million 10-year senior notes

By Andrea Heisinger

New York, May 26 - Allegheny Technologies Inc. is planning a $300 million offering of 10-year senior notes, according to a press release and a 424B5 filing with the Securities and Exchange Commission.

The deal is being done concurrently with a $350 million offering of convertible notes due 2014.

The notes, which will mature June 1, 2019, will feature a change-of-control put of 101%.

Bookrunners for the senior notes are Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. Banc of America Securities LLC is joint lead manager.

Proceeds will be used to purchase any and all outstanding 8.375% notes due 2011, with any remainder for general corporate purposes.

The specialty metals producer is based in Pittsburgh.

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