Carpenter Technology Corporation Announces Closing of $700.0 Million Private Offering of 5.625% Senior Notes Due 2034 and Amendment of Credit Agreement

Core Viewpoint - Carpenter Technology Corporation has successfully closed a $700 million offering of 5.625% senior notes due 2034, intending to use the proceeds to redeem higher-interest senior notes due in 2028 and 2030 [1] Group 1: Financial Offering - The company announced the closing of a $700 million aggregate principal amount of 5.625% senior notes due 2034 through a private offering [1] - The net proceeds from the offering will be used to redeem in full the 6.375% senior notes due 2028 and the 7.625% senior notes due 2030, including any accrued but unpaid interest [1] Group 2: Credit Facility Amendments - The company amended and restated its second amended and restated credit agreement to increase revolving commitments from $350 million to $500 million and added an accordion feature allowing for an increase of up to $650 million [4] - The maturity date of the credit facility has been extended to 2030, with modifications to interest rates and financial covenants [4] Group 3: Company Overview - Carpenter Technology Corporation is a leader in high-performance specialty alloy materials for critical applications in aerospace, defense, and medical markets [5] - The company has a long history, founded in 1889, and specializes in premium specialty alloys including nickel, cobalt, and titanium [5]