Loan & DebtMay 28, 2026, 05:12 PM
Kennametal Issues $300M 5.800% Senior Notes Due 2036
AI Summary
Kennametal Inc. completed the public offering of $300 million in 5.800% Senior Notes due May 28, 2036. The net proceeds, approximately $295.9 million, will primarily fund a concurrent tender offer to purchase its 4.625% Senior Notes due 2028. Any remaining funds will be used for general corporate purposes, including repayment of outstanding debt.
Key Highlights
- Issued $300,000,000 aggregate principal amount of 5.800% Senior Notes due May 28, 2036.
- Net proceeds from the offering totaled approximately $295,932,716.
- Proceeds will fund the purchase of 4.625% Senior Notes due 2028 via tender offer.
- Excess proceeds for general corporate purposes, including repayment of untendered 2028 Notes.
- Notes issued under a Base Indenture and Fifth Supplemental Indenture.
- Underwriting Agreement with BofA Securities, BNP Paribas, and PNC Capital Markets.
Price Impact
More from KMT