Allegheny Technologies entered into a first amendment to revolving credit and security agreement, dated May 13, 2016, amending its revolving credit and security agreement dated September 15, 2015 with PNC Bank as agent and PNC Capital Markets as sole lead arranger and sole bookrunner.

The amendment, among other things, provides for the addition of a $100 million term loan to the company’s senior secured credit facility and amends certain covenants in the credit agreement and related defined terms.

Proceeds of the term loan will be used to pay down outstanding borrowings under the credit facility. All amounts owed with respect to the term loan will be due and payable on November 13, 2017, if not earlier prepaid. The borrower may prepay all amounts owed with respect to the term loan on a one-time basis on and after May 13, 2017.