Allegheny Technologies to redeem $500 million 5.95% notes due 2021

By Wendy Van Sickle

Columbus, Ohio, Nov. 19 – Allegheny Technologies Inc. plans to redeem all $500 million of its outstanding 5.95% senior notes due 2021, according to a news release.

The company plans to fund the redemption with proceeds of a $350 million issue of eight-year senior notes that priced at par to yield 5 7/8% on Tuesday as well as with cash on hand.

The issuer is a Pittsburgh-based specialty metals manufacturer.

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