Allegheny Technologies Incorporated amended its credit facility, consisting of a $100 million term loan and a $500 million revolver, with PNC Bank as administrative agent.

According to a related 8-K filing, Bank of America, Citibank, JPMorgan Chase Bank and MUFG Union Bank, served as co-syndication agents. Wells Fargo Bank was managing agent, and PNC Capital Markets was sole lead arranger and sole bookrunner.

The credit agreement extends through September 30, 2024. In addition to the term loan and revolver, it and includes a letter of credit sub-facility of up to $200 million and a swing loan facility of up to $50 million.

Additionally, the credit agreement provides the borrowers with the ability, through June 30, 2020 and as long as no default or event of default has occurred and is continuing, to borrow an additional term loan in up to two draws in an aggregate amount of up to an additional $100 million and the right to request an increase of up to $200 million in the maximum amount available under the revolving credit facility, provided that any such increase is in the sole discretion of the lenders.

Pittsburgh-based ATI is a global manufacturer of technically advanced specialty materials and complex components.