Loan & DebtMay 19, 2026, 10:21 AM
Kennametal Announces Tender Offer for $300M Notes & New Offering
AI Summary
Kennametal Inc. announced a cash tender offer to repurchase any and all of its outstanding 4.625% Senior Notes due 2028, which have an aggregate principal amount of $300 million. Concurrently, the company commenced an underwritten public offering of new senior notes. The tender offer is conditional upon the successful completion of the new notes offering, with proceeds from the new offering primarily intended to fund the tender offer and for general corporate purposes.
Key Highlights
- Kennametal commenced a cash tender offer for its 4.625% Senior Notes due 2028.
- The aggregate principal amount outstanding for the 2028 Notes is $300,000,000.
- The company also commenced an underwritten public offering of new senior notes.
- The tender offer expires on May 26, 2026, at 5:00 p.m. New York City time.
- The tender offer is conditional on receiving sufficient proceeds from the new notes offering.
- Proceeds from the new notes offering will fund the tender offer and for general corporate purposes.
Price Impact
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