Allegheny Technologies宣布定价为285.0百万美元的可转换票据提供

06/17/20

Allegheny Technologies宣布定价为285.0百万美元的可转换票据提供

匹兹堡- (商业资讯) - Allgheny Technologies Incorporated(纽约证券交易所代码:ATI)今天宣布的价格 $ 285.0万美元根据1933年修订的《证券法》(以下简称《证券法》)第144A条规定,将于2025年到期的3.5%可转换优先债券(以下简称“债券”)私募配售给合格机构买家。ATI还给予债券的最初购买者一个13天的选择权,以购买最多的额外债券 $ 40.0万美元债券的本金总额。

预计初始购买者的票据预计将于6月22日,2020年6月22日签订,符合惯常的结束条件,预计将导致大约 $ 27630万美元在净额后,扣除初始购买者折扣后的ATI,并估计由ATI应付的费用(假设不违反初始购买者的选项)。

票据将是ATI的高级,无抵押义务,并且在每年6月15日开始于2020年12月15日和12月15日将在拖欠拖欠的利息。除非较早,否则票据将于2025年6月15日成熟转换,兑换或回购。ATI可能无法在2023年6月15日之前兑换笔记;在2023年6月15日或之后,在91次预定的交易日之前,即在到期日之前,ATI可以在其期权兑换票据,并在某些条件下,如下所述。

ATI预计大约使用 2.223亿美元净收益的报告票据大约 $ 20320万美元2022年到期的4.75%可转换优先票据(以下简称“2022年票据”)(合称“2022年票据回购”)的本金总额。ATI也希望使用近似 $ 19.00万提供票据的净收益,以支付下面描述的上限呼叫事务的成本。提供的净收入的其余部分将用于一般企业目的。ati.expects that holders of the 2022 notes that sell their 2022 notes to ATI may enter into or unwind various derivatives with respect to ATI’s common stock and/or purchase or sell shares of ATI’s common stock in the market to hedge their exposure in connection with these transactions. These activities could increase (or reduce the size of any decrease in) the market price of ATI’s common stock or the Notes. These activities could also result in higher effective conversion prices for the Notes.

该债券的初始兑换率为每股普通股64.5745股 1000美元本金的票据(相当于初始转换价格 $ 15.49每股)。在紧接2025年3月15日的营业结束前,票据持有人只有在满足特定条件并在特定期限内,才可根据其选择权进行兑换。此后,直至到期日前的第二个预定交易日结束为止,无论在何种条件下,票据持有人均可在任何时候以期权的形式转换票据。该票据的转换将由ATI选择以现金、ATI普通股股份或上述股份的组合结算。初始转换价格约为45.0%的溢价 10.68美元每年6月17日纽约证券交易所ATI普通股的每股收盘价。

ATI可在2023年6月15日或之后及到期日之前,按照其选择权赎回全部或任何部分票据,赎回价格等于该票据本金的100%,加上应计未付利息如果ATI的普通股的最后报告销售价格已经至少130%的转换价格然后实际上至少20个交易日(连续)是否在任何连续30个交易日期间(包括这样的时期的最后一个交易日)在交易日结束日期前立即ATI提供书面通知的救赎。

笔记的持有者可能需要ATI回购他们的笔记在特定事件的发生,构成根本性的改变契约治理的笔记下购买价格等于本金的100%,加上任何应计和未付利息,但不包括,根本改变回购日期。就某些公司活动而言,或如ATI发出赎回通知,在某些情况下,对于选择在该等公司活动或有关赎回期间将其票据转换的持有人,本局会提高其兑换率。

与备注的定价有关,ATI与某些初始购买者或其各自的附属公司(共同,“交易对手”)输入了私人谈判的密封呼叫交易。The capped call transactions are expected generally to reduce potential dilution to ATI’s common stock upon any conversion of the Notes and/or offset any cash payments ATI is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap based on the cap price. The cap price of the capped call transactions will initially be approximately 19.76美元每股股份,在上次报告的ATI普通股票的销售价格上代表了85%的溢价 10.68美元每股股份于6月17日,2020年6月17日,并根据附录的呼叫交易条款进行某些调整。如果初始购买者可以选择购买额外票据的选项,则ATI预计将与交易对手进入额外的加盖电话交易。

ati.has been advised that, in connection with establishing their initial hedges of the capped call transactions, the Counterparties or their respective affiliates expect to purchase shares of ATI’s common stock and/or enter into various derivative transactions with respect to ATI’s common stock concurrently with, or shortly after, the pricing of the Notes, and may unwind these various derivative transactions and purchase ATI’s common stock in open market transactions shortly following the pricing of the Notes. These activities could increase (or reduce the size of any decrease in) the market price of ATI’s common stock or the Notes at that time.

In addition, ATI has been advised that the Counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to ATI’s common stock and/or by purchasing or selling shares of ATI’s common stock or other securities of ATI in secondary market transactions following the pricing of the Notes and from time to time prior to the maturity of the Notes (and are likely to do so following any conversion of the Notes, any repurchase of the Notes by ATI on any fundamental change repurchase date, any redemption date, or any other date on which the notes are retired by ATI). These activities could cause or avoid an increase or a decrease in the market price of ATI’s common stock or the Notes, which could affect the ability of holders of Notes to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of the Notes, could affect the number of shares of ATI’s common stock, if any, and value of the consideration that holders of Notes will receive upon conversion of the Notes.

根据法案第144A条规定,该票据只提供给被合理认为是合格机构买家的人。票据或票据转换后发行的普通股股份(如有)均未根据《法案》或任何其他司法管辖区的证券法进行登记,且不得发行或出售 美国缺勤注册或使用此类登记要求的适用豁免。

本公告既不是出售或购买任何此等证券的要约,也不构成在该等要约、要约或出售不合法的任何管辖区的要约、要约或出售。

本新闻发布载于1995年私营证券诉讼改革法案的含义内的“前瞻性陈述”。本新闻发布的某些陈述与未来的事件和期望有关,因此构成前瞻性陈述。前瞻性陈述,可能包含“预期”的单词“相信”,“估计”,“期待”,“”会“,”应该,“”会“,”的“会”,“”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 metals; (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 and (h) business and economic disruptions associated with the currently ongoing COVID-19 pandemic or other similar widespread public health crises 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 31, 2019 or our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, and in other reports filed with the Securities and Exchange Commission. We assume no duty to update our forward-looking statements.

通过材料科学解决世界的挑战

ATI(纽约证券交易所代码:ATI)是一个 40亿美元全球制造商通过材料科学解决世界上最困难的挑战;先进,综合工艺技术;无情地创新的人。我们为客户提供苛刻的应用程序需要飞行更高,更深,更强大,持续时间 - 在地球上的任何地方或地球下方的持久性。我们合作以在喷气发动机锻件和3D印刷航​​空航天部博金宝电子游艺件等应用中提供最终性能和长期价值的形式创建新的特种材料。我们生产用于锻造和添加剂制造的粉末;轧制材料和成品组件。我们的专博金宝电子游艺业材料耐受极端的温度,压力和腐蚀,每天改善和保护人类生活。了解更多Atimetals.com.

投资者:

斯科特A.Inder.

412-395-2720

scott.minder@atimetals.com.

媒体:

娜塔莉吉列

412-394-2850.

natalie.gillespie@atimetals.com.

资料来源:Allgheny Technologies纳入