Carpenter Technology completed a $300 million syndicated credit facility by amending and restating its existing credit agreement, which had been set to expire on March 31, 2022. The amendment extends the maturity of the facility to March 31, 2024.
In connection with the credit facility, Carpenter Technology 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 for the facility.
Carpenter Technology is a provider of specialty alloy-based materials and process solutions for applications in the aerospace, defense, transportation, energy, industrial, medical and consumer electronics markets.
