Allegheny Technologies Incorporated ATI announced the pricing of its public offering of senior notes. It has agreed to sell $325-MILLION total principal amount of 4.875% senior notes due 2029 and $350-MILLION total principal amount of 5.125% senior notes due 2031.The 2029 notes will offer interest semi-annually in arrears at a rate of 4.875% annually and will mature on Oct 1, 2029, unless earlier redeemed or repurchased. The 2031 notes will pay interest semi-annually in arrears at a rate of 5.125% annually and will mature on Oct 1, 2031, unless earlier redeemed or repurchased.Allegheny plans to use a part of the net proceeds to finance the redemption of all of its outstanding 5.875% senior notes due 2023, of which $500-MILLION total principal amount is outstanding, per the terms of the indenture governing the 2023 notes.The balance net proceeds will be utilized for general corporate purposes, including the support of a voluntary $50-MILLION defined benefit pension plan contribution during third-quarter 2021 intended to improve the funded status of the plan.The joint book-running managers for the offering are BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC.Shares of Allegheny have surged 101.9% in the past year compared with 79.2% rise of the industry.Image Source: Zacks Investment ResearchAllegheny, in its last earnings call, stated that it expects continued recovery in the jet engine market in the third quarter. The recovery is expected to be driven by increasing narrow body aircraft production rates as well as strength in the energy and electronics end markets.The company anticipates lingering effects on its SRP business, with production levels returning to pre-strike levels through the rest of the third quarter. Despite this challenge in the near term, the global economic recovery is gradually expanding and providing optimism for its most impactful end markets, Allegheny noted.Allegheny Technologies Incorporated Price and Consensus Allegheny Technologies Incorporated price-consensus-chart | Allegheny Technologies Incorporated Quote Zacks Rank & Key PicksAllegheny currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the basic materials space are Nucor Corporation NUE, Dow Inc. DOW and Cabot Corporation CBT.Nucor has a projected earnings growth rate of around 478.7% for the current year. The company’s shares have soared 145.1% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Dow has an expected earnings growth rate of around 403% for the current year. The company’s shares have gained 20.9% in the past year. It currently carries a Zacks Rank #2 (Buy).Cabot has an expected earnings growth rate of around 138.5% for the current fiscal. The company’s shares have rallied 37% in the past year. It currently carries a Zacks Rank #2. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nucor Corporation (NUE): Free Stock Analysis Report Allegheny Technologies Incorporated (ATI): Free Stock Analysis Report Dow Inc. (DOW): Free Stock Analysis Report Cabot Corporation (CBT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research