Carpenter Technology Extends and Amends Credit Facility
March 26 2021 - 5:30PM
Carpenter Technology Corporation (NYSE: CRS) (the “Company”) today
announced the successful completion of a $300 million syndicated
credit facility (the “Credit Facility”) by amending and restating
the Company’s existing Credit Agreement which had been set to
expire on March 31, 2022. The Credit Facility extends the maturity
to March 31, 2024.
In connection with the Credit Facility, the
Company entered into a Security Agreement that, among other things,
creates a security interest in accounts receivable, inventory and
certain related assets as certain collateral of the Company for the
benefit of the secured parties under the Credit Facility.
Bank of America, N.A. and JPMorgan Chase Bank,
N.A. served as the Joint Lead Arrangers.
About Carpenter Technology
Carpenter Technology Corporation is a recognized leader in
high-performance specialty alloy-based materials and process
solutions for critical applications in the aerospace, defense,
transportation, energy, industrial, medical, and consumer
electronics markets. Founded in 1889, Carpenter Technology has
evolved to become a pioneer in premium specialty alloys, including
titanium, nickel, and cobalt, as well as alloys specifically
engineered for additive manufacturing (AM) processes and soft
magnetics applications. Carpenter Technology has expanded its AM
capabilities to provide a complete “end-to-end” solution to
accelerate materials innovation and streamline parts production.
More information about Carpenter Technology can be found at
www.carpentertechnology.com.
Media
Inquiries: |
Investor
Inquiries: |
Heather Beardsley |
The Plunkett Group |
+1 610-208-2278 |
Brad Edwards |
hbeardsley@cartech.com |
+1 212-739-6740 |
|
brad@theplunkettgroup.com |
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