PITTSBURGH--(BUSINESS WIRE)--Allegheny Technologies Incorporated (NYSE:ATI) announced today that it has priced its public offering of senior notes. ATI has agreed to sell $350.0 million aggregate principal amount of 5.875% Senior Notes due 2027 (the “Notes”). The Notes will pay interest semi-annually in arrears at a rate of 5.875% per year and will mature on December 1, 2027, unless earlier redeemed or repurchased.

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.