Global law firm K&L Gates LLP advised ATI Inc., a US-based manufacturer and engineering company, on an underwritten public offering of US$450 million aggregate principal amount of a new series of senior notes. A majority of the net proceeds of the offering are being used to redeem in full an existing series of ATI's senior notes that are due to mature in 2027. ATI is a global producer of high-performance materials and solutions for the global aerospace and defense markets, and critical applications in electronics, medical, and specialty energy.
The deal team was led by Pittsburgh partner Jeffrey Acre with assistance from Nashville partner Lauren Ammons and Miami associate Stephen Vinson. Pittsburgh partner Steve Barge and associate Vicki Wu advised on tax matters. Charlotte partner Sean Jones, Pittsburgh partner Scott Graham, Wilmington partner Kelly Terribile, Boston partner Lance Dial, New York partner Marc Veilleux, and of counsel Keri Riemer advised on legal opinion matters.
"This transaction is a testament to ATI's continued ability to access the capital markets as a means to successfully manage its balance sheet. The transaction required close coordination to execute efficiently in a dynamic environment," said Acre. "We were pleased to support ATI on this offering, drawing on our global platform and cross-disciplinary team to help guide the transaction through completion."
K&L Gates' Corporate practice is one of the most substantial in the legal industry, with hundreds of lawyers in offices across the globe providing clients with practical legal solutions in the structuring, financing, and closing of domestic, international, and cross-border transactions.