Carpenter Technology Corporation completed a $300 million syndicated 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 and JPMorgan Chase Bank served as the Joint Lead Arrangers.