RTI to offer $175 million of convertible senior notes

RTI International Metals, Inc. (NYSE: RTI), today announced its intention to offer, subject to market and other conditions, approximately $175 million principal amount of convertible senior notes due December 1, 2015 in an offering registered under the Securities Act of 1933, as amended (the "Securities Act"). Upon conversion, RTI will deliver or pay, as the case may be, shares of RTI common stock, cash or a combination of cash and shares of RTI common stock, at RTI's election. RTI also expects to grant the underwriters of the offering an option to purchase up to $26.25 million aggregate principal amount of additional notes to cover over-allotments, if any.

The notes will be senior unsecured obligations of RTI and will pay interest semi-annually. The interest rate, conversion rate, offering price and other terms will be determined at the time of pricing of the offering. The notes will be guaranteed by each of RTI's subsidiaries that, upon completion of RTI's current credit facility amendment, guarantee RTI's obligations under RTI's current credit facility, as amended. Each subsidiary guarantee will be a joint and several, unconditional guarantee of RTI's obligations under the notes and the indenture under which the notes are issued. RTI intends to use the net proceeds from the sale of the notes for working capital and general corporate purposes, including capital expenditures and potential future acquisitions.