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PHILADELPHIA, March 11, 2022 (GLOBE NEWSWIRE) — Carpenter Technology Corporation (NYSE:CRS) (the “Company”) announced today that it priced an offering of $300.0 million aggregate principal amount of 7.625% senior unsecured notes due 2030 (the “Notes”) in an underwritten public offering. The Notes were priced at 100.000% of the principal amount with a yield to maturity of 7.625%. The offering is expected to close on March 16, 2022, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the offering to redeem in full its 4.450% senior notes due 2023.
JP Morgan Securities LLC is acting as the lead book-running manager for the offering.
The offering is being made pursuant to an automatically effective shelf registration statement of the Company filed with the Securities and Exchange Commission (the “SEC”). The offering will be made only by means of a prospectus supplement and the accompanying base prospectus, copies of which may be obtained by contacting the book-running manager using the information provided below. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is also available on the SEC’s website, www.sec.gov or by contacting JP Morgan Securities LLC toll-free at (866)-803-9204 or writing to JP Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717.
This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes and shall not constitute an offer, solicitation or sale, nor is it an offer to purchase, or the solicitation of an offer to sell the Notes in any jurisdiction in which such offer, solicitation, or sale is unlawful. This press release does not constitute a notice of redemption with respect to the 4.450% senior notes due 2023.
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, medical, transportation, energy, industrial, and consumer electronics …
Full story available on Benzinga.com
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