LOS ANGELES RTI
International Metals Inc. plans to sell $350 million in
1.625-percent convertible senior notes, raising the amount of
its initial intended offering by $100 million.
Net proceeds from the
offeringthe size of which was initially announced at $250
millionwill now be about $339 million, assuming no
exercise of an overallotment, the Pittsburgh-based titanium
producer, fabricator and distributor said. The offering is due
to close April 17.
RTI plans to use a portion of the proceeds to repurchase a
$115.6-million aggregate principal amount of its outstanding
3-percent convertible senior notes due in 2015 through
individually negotiated private purchases totaling about $132.1
million, the company said. The remainder of the proceeds will
be used for working capital and general corporate purposes.