ATI extends $800 million credit facility through 2027

Chicago, Sept. 9 – ATI Inc. amended for the second time its credit agreement from 2019 on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The amendment extends the $200 million term loan and the $600 million revolver through Sept. 9, 2027.

The revolver includes a letter of credit sub-facility for up to $200 million and a swingline facility of up to $50 million.

There is a $300 million accordion across both tranches, subject to the discretion of the lenders.

Based on borrowing capacity, interest on the revolver will be between SOFR plus 125 basis points and 175 bps.

The interest rate for the term loan was not available.

PNC Bank, NA is the agent.

Bank of America, NA and PNC Capital Markets LLC are joint lead arrangers.

PNC Capital Markets LLC is the bookrunner.

Bank of America, NA, Citibank, NA, J. P. Morgan Chase Bank, NA, MUFG Union Bank, NA, and Wells Fargo Bank, NA are co-syndication agents.

ATI is a specialty metals company with headquarters in Dallas. The company changed its name from Allegheny Technologies Inc. and moved its headquarters in June.

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