Small font size A Larger text size A Largest text size A

Kennametal Refinances Debt, Expands Credit Facilities to Support Tungsten Demand

BY MT Newswires | CORPORATE | 09:06 AM EDT

09:06 AM EDT, 05/29/2026 (MT Newswires) -- Kennametal (KMT) completed a series of financing transactions aimed at boosting liquidity, extending debt maturities and supporting near-term tungsten-related working capital needs, the company said Friday.

The company completed a $300 million offering of 5.800% senior unsecured notes due 2036 and a cash tender offer for $300 million of 4.625% senior notes due 2028, it said.

The remaining untendered 2028 notes will be redeemed on July 1, the company said.

Kennametal (KMT) said it also entered into a three-year $500 million delayed-draw term loan priced at secured overnight financing rate plus 112.5 basis points and expanded its revolving credit facility by $200 million to $850 million.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

More Fixed Income News

TREASURIES-US yields edge lower to end the week on hopes for Iran deal BY Reuters |TREASURY 10:19 AM EDT
AM Best Assigns Credit Ratings to Park Avenue Life Insurance Company BY Business Wire |CORPORATE 09:56 AM EDT
BRIEF-Bank of Canada to auction cash management bills on June 1 BY Reuters |ECONOMIC 09:52 AM EDT
Laurentian Bank of Canada Q2 2026 Earnings Call: Complete Transcript BY Benzinga |ECONOMIC 09:49 AM EDT

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article