Carpenter Technology Announces $700 Million Private Offering of Senior Notes

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The company intends to use the net proceeds, together with cash on hand, to redeem its existing senior notes due 2028 and 2030, including accrued interest, and for general corporate purposes. Additionally, the company is in the process of amending its credit facility with Bank of America, which is expected to increase the revolving commitments and extend the maturity date. This announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities.

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About Carpenter Technology Corporation

Carpenter Technology Corporation specializes in the development, manufacturing, and distribution of high-performance specialty alloys, including stainless steels, long-wear alloys, and titanium base alloys. These materials are primarily designed for applications requiring high strength, corrosion resistance, and reliability, serving key industries such as aerospace, defense, medical, transportation, and energy. Carpenter Technology's advanced materials are essential for manufacturing critical components in aircraft engines, surgical instruments, oil and gas extraction tools, and automotive systems, among others. The company's contribution to these sectors underscores its vital role in supporting technological advancements and infrastructure development. Headquartered in Philadelphia, Pennsylvania, Carpenter Technology operates production facilities and R&D centers globally, facilitating innovation and maintaining a robust supply chain network. Its technical expertise and commitment to quality make it a trusted provider in the specialty alloys market, fostering partnerships to drive forward engineering solutions that meet evolving industry demands.