Atkore Completes Refinancing of Senior Secured Term Loan

HARVEY, Ill. — Atkore Inc. (the “Company”) announced that it had completed the refinancing of the senior secured term loan facility of its subsidiary, Atkore International, Inc. (“AII”), which had been scheduled to mature in December 2023. The Company replaced the existing term loan facility with a new $400 million senior secured term loan facility of AII that matures in 2028. Borrowings under the new term loan facility bear interest at the rate of either LIBOR (with a floor of 0.5%) plus 2.00%, or an alternate base rate (with a floor of 1.5%) plus 1.00%. Proceeds of the new term loan facility, together with the proceeds from the issuance by the Company of $400 million of 4.25% Senior Notes due 2031 (the “Notes”) were used to fund the repayment of the existing term loan facility and to pay related fees and expenses. The remaining proceeds will be used for general corporate purposes. The Company also extended the maturity of AII’s existing $325 million asset-based revolving credit facility to 2026.

The Notes are the Company’s senior unsecured obligations and are guaranteed by each of the Company’s existing and future subsidiaries that are borrowers under or that guarantee its asset-based revolving credit facility and new term loan facility.

“We’re pleased with the successful completion of these transactions, which lower the Company’s effective interest rate while also fixing a portion of the rate structure over the next decade,” said David P. Johnson, the Company’s Chief Financial Officer. “These actions demonstrate Atkore’s continued commitment to operating with strong financial management while continuing to deliver value to our customers.”

The Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements. Accordingly, the Notes were offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to non-U.S. persons in offshore transactions outside the United States in accordance with Regulation S under the Securities Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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