Allegheny Technologies Incorporated (NYSE:ATI) Files An 8-K Entry into a Material Definitive Agreement

Item1.01

On June21, 2017, Allegheny Technologies Incorporated (the
Company) and certain of its wholly owned domestic subsidiaries
entered into a Second Amendment to Revolving Credit and Security
Agreement, dated as of June21, 2017 (the Second Amendment),
amending that certain Revolving Credit and Security Agreement
dated as of September15, 2015 (as amended, the Credit Agreement),
by and among the Borrowers party thereto, the Guarantors party
thereto, the Lenders party thereto and PNC Bank, National
Association as Agent for the Lenders. The Second Amendment
(a)extends the term of the Companys $400 million revolving credit
facility (the Revolver) and the maturity of its $100 million term
loan (the Term Loan) under the Credit Agreement to February28,
2022, (b)reduces the Applicable Margin (as defined in the Credit
Agreement) by 0.25% for advances under the Revolver and by 0.50%
for the Term Loan and (c)amends certain of the covenants in the
Credit Agreement and related defined terms.

The foregoing is a summary of the material terms and conditions
of the Second Amendment and is qualified in its entirety by
reference to the full text of the Second Amendment, which is
filed as Exhibit 10.1 to this Current Report on Form 8-K and
incorporated herein by reference.

The disclosure set forth above under Item1.01 is hereby
incorporated by reference into this Item2.03.

ALLEGHENY TECHNOLOGIES INC Exhibit
EX-10.1 2 d406375dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 SECOND AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT This Second Amendment to Revolving Credit and Security Agreement (this “Second Amendment”) is dated this 21 day of June,…
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About Allegheny Technologies Incorporated (NYSE:ATI)

Allegheny Technologies Incorporated (ATI) is a specialty materials and components producer. The Company operates through two business segments: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel-based alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel. Its standard products include specialty stainless sheet and stainless steel plate. It is engaged in the production of titanium alloys, nickel-based and cobalt-based alloys and superalloys, and vacuum-melted specialty alloys used in the manufacture of components for both commercial and military jet engines, as well as replacement parts for those engines. It also produces titanium alloys, vacuum-melted specialty alloys and stainless alloys for use in commercial and military airframes, airframe components and missiles.