Kennametal Inc. (NYSE: KMT) announced today the pricing of a public offering of $300,000,000 aggregate principal amount of its 2.80% Senior Notes due March 1, 2031 under the Company's shelf registration statement.

The Company expects to receive the net offering proceeds upon closing on or about February 23, 2021, subject to customary closing conditions. Kennametal intends to use the net proceeds from the offering, plus cash on hand, to repay or redeem its 3.875% notes due February 2022 and for general corporate purposes. Any such redemption would be made in accordance with the terms of the applicable indenture, including providing the required notice of redemption. Pending such redemption, the Company may use the net offering proceeds to reduce any outstanding indebtedness or invest the net proceeds in short-term investments.

About Kennametal

With over 80 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 9,000 employees are helping customers in more than 60 countries stay competitive. Kennametal generated nearly $1.9 billion in revenues in fiscal 2020.