Atkore Inc. Announces Intention To Offer Senior Notes

Rhea-AI Summary

Atkore Inc. (NYSE: ATKR) plans to offer $400 million of Senior Notes due 2031. The proceeds will be used primarily to reduce outstanding amounts on its term loan facility, including interest. The offering is targeted at qualified institutional buyers, both in the U.S. and internationally, under specific regulations. Notably, the Notes are not registered under the Securities Act, limiting their sale until registration or exemption is secured. This press release serves only for informational purposes and does not constitute an offer or solicitation.

Positive

• Offering $400 million in Senior Notes may strengthen the capital structure.
• Proceeds will help repay a portion of term loan facility, improving liquidity.

Negative

• Notes not registered under the Securities Act may limit investor interest.
• Potential market risks associated with the Offering could impact stock performance.

Atkore Inc. (the “Company”) (NYSE: ATKR) today announced that it intends, subject to market and other customary conditions, to offer (the “Offering”) $400 million in aggregate principal amount of Senior Notes due 2031 (the “Notes”).

The Company intends to use the net proceeds of the Offering to repay a portion of the amounts outstanding under its term loan facility (including accrued and unpaid interest with respect to such amounts).

The Notes will be offered in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States pursuant to Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release is for informational purposes only and does not constitute an offer to sell the Notes, nor a solicitation for an offer to purchase the Notes or any other securities, nor shall there be any sales of Notes or other securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210517005483/en/

FAQ

What is Atkore Inc.'s recent offering amount?

Atkore Inc. announced a $400 million offering of Senior Notes due 2031.

How will Atkore use the proceeds from the Senior Notes?

The proceeds will be used to repay a portion of its term loan facility, including interest.

Who can purchase the Senior Notes offered by Atkore?

The Senior Notes will be offered primarily to qualified institutional buyers.

Are the Senior Notes registered under the Securities Act?

No, the Notes and guarantees are not registered under the Securities Act.

What is the maturity date of Atkore's Senior Notes?

The Senior Notes are due in 2031.