KENNAMETAL INC 8-K

What Happened

• Kennametal Inc announced on May 28, 2026 that it completed the public sale of $300,000,000 aggregate principal amount of 5.800% Senior Notes due May 28, 2036. The offering was issued under the company’s existing indenture (originally dated February 14, 2012) as supplemented by a Fifth Supplemental Indenture dated May 28, 2026. Net proceeds to the company were approximately $295,932,716 after underwriting discounts and estimated offering expenses.
• Kennametal said it intends to use the net proceeds to pay the purchase price for its 4.625% Senior Notes due 2028 that were validly tendered and accepted in a concurrent tender offer; any excess proceeds will be used for general corporate purposes, which may include redemption or repayment of untendered 2028 Notes.

Key Details

• Offering size: $300,000,000 principal of 5.800% Senior Notes due May 28, 2036.
• Net proceeds: approximately $295,932,716.
• Purpose: fund purchase of Kennametal’s 4.625% Senior Notes due 2028 tendered in a concurrent tender offer; excess for general corporate purposes (including possible redemption of untendered 2028 notes).
• Transaction parties: Fifth Supplemental Indenture with U.S. Bank Trust Company, National Association (trustee); underwriters led by BofA Securities, BNP Paribas Securities Corp. and PNC Capital Markets (Underwriting Agreement dated May 19, 2026).

Why It Matters

• This transaction replaces near-term debt (2028) with longer-dated debt (2036), which can reduce near-term refinancing pressure and push out maturities on the company’s debt profile.
• Investors should note the fixed 5.800% coupon and the amount of new debt issued; these affect Kennametal’s interest expense and capital structure going forward.
• The filing documents the legal and underwriting arrangements for the notes (including counsel opinion) and confirms the intended use of proceeds — primarily to fund the previously announced tender for the 2028 notes.