Carpenter Technology Completes Syndicated Credit Facility
March 31 2017 - 4:20PM
Carpenter Technology Corporation (NYSE:CRS) today announced the
successful completion of a $400 million syndicated credit facility.
This five-year revolving line of credit replaces the existing
revolver due to expire in June 2018. The new facility, comprised of
nine lenders, was oversubscribed prior to allocations.
Bank of America, N.A. and JPMorgan Chase Bank,
N.A. served as the Joint Lead Arrangers. Terms of the facility
remain largely unchanged from the prior agreement and include the
same two financial covenants, debt to capital ratio and interest
coverage ratio.
About Carpenter Technology
Carpenter Technology Corporation is a leading
producer and distributor of premium specialty alloys, including
titanium alloys, powder metals, stainless steels, alloy steels and
tool steels. Carpenter’s high-performance materials and
advanced process solutions are an integral part of critical
applications used within the aerospace, transportation, medical and
energy markets, among other markets. Building on its history
of innovation, Carpenter’s superalloy powder technologies support a
range of next-generation products and manufacturing techniques,
including additive manufacturing or 3D Printing. Information
about Carpenter can be found at www.cartech.com.
Media Inquiries:
William J. Rudolph, Jr.
+1 610-208-3892
wrudolph@cartech.com
Investor Inquiries:
Brad Edwards
Brainerd Communicators
+1 212-986-6667
edwards@braincomm.com
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