PITTSBURGH--(BUSINESS WIRE)--Allegheny Technologies Incorporated (NYSE:ATI) announced today its intention to offer, subject to market and other conditions, a series of senior notes.

ATI intends to use the net proceeds from the offering, together with cash on hand, to fund a redemption of all of ATI’s outstanding 5.950% Senior Notes due 2021 (the “2021 Notes”), of which $500.0 million aggregate principal amount is outstanding, in accordance with the terms of the indenture governing the 2021 Notes.

BofA Securities, Inc. and Citigroup Global Markets Inc. are acting as the joint book-running managers for the offering.

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ATI is a global manufacturer of technically advanced specialty materials and complex components. ATI revenue was $4.1 billion for the twelve month period ended September 30, 2019. Our largest markets are aerospace & defense, particularly jet engines. We also have a strong presence in the oil & gas, energy, medical, automotive, and other industrial markets. ATI is a market leader in manufacturing differentiated specialty alloys and forgings that require our unique manufacturing and precision machining capabilities and our innovative new product development competence. We are a leader in producing powders for use in next-generation jet engine forgings and 3D-printed aerospace products. See more at our website ATIMetals.com.