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Atkore Inc. (“Company”) (New York Stock Exchange:ATKRA leading provider of electrical, safety and infrastructure solutions) today announced that it has completed the refinancing of its subsidiary Atkore International, Inc. (“AII”)’s senior secured term loan facility, which is scheduled to expire in 2000 . December 2023. The company replaced the existing term loan facility with a new $400 million AII senior secured term loan facility, which expires in 2028. The borrowing rate under the new term loan facility is the London Interbank Offered Rate (the lower limit is 0.5%). ) Plus 2.00%, or the reserve basic rate (the lower limit is 1.5%) plus 1.00%. The proceeds from the new term loan financing, together with the company’s US$400 million, 4.25% senior notes (“bonds”) maturing in 2031, will be used to repay existing term loan financing and pay related expenses. Fees and expenses. The remaining proceeds will be used for general corporate purposes. The company also extended the expiry date of AII’s existing $325 million asset-based revolving credit facility to 2026.
The notes are the company’s senior unsecured debt, which is guaranteed by the company’s existing and future subsidiaries, which are borrowers based on or guaranteeing its asset-based revolving credit line and new term loan line.
David P. Johnson, the company’s chief financial officer, said: “We are pleased with the successful completion of these transactions, which lowered the company’s real interest rate and fixed part of the interest rate structure for the next ten years.” “These actions It shows that Atkore has been committed to operating through strong financial management while continuing to create value for our customers.”
These notes have not been registered under the revised Securities Act of 1933 (the “Securities Act”) or any state securities laws, and may not be sold or sold in the United States or by Americans who have not been registered or have received appropriate exemptions. From this registration request. Therefore, only in accordance with the provisions of Section 144A of the Securities Act, the sale and sale of notes in the United States to persons who are reasonably considered to be qualified institutional purchasers, and the sale and sale of notes to non-U.S. persons in transactions outside the United States under Rule S Bills for sale. Securities Law.
This press release does not constitute a registered offer of an offer or an offer in any state or other jurisdiction where it is illegal, nor an offer of an offer or an offer of an offer. Qualifications granted by the securities laws of such states or other jurisdictions.
About Atkore Inc.
The company is building a future where our employees, customers, suppliers, shareholders and communities will work together to build a better future-a future focused on serving customers and providing power and protection to the world. With a global network of manufacturing and distribution facilities, the company is a leading provider of electrical, safety and infrastructure solutions.To learn more, please visit www.atkore.com.
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