---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-046705"
form_type: "8-K"
ticker: "CRS"
cik: "0000017843"
company_name: "CARPENTER TECHNOLOGY CORP"
filed_at: "2023-04-18T23:59:59+00:00"
generated_at: "2026-06-17T00:49:21.533074+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Carpenter Technology closes $350M revolving credit facility, extends maturity to 2028

## Summary
- New $350M revolving credit facility replaces prior $300M facility set to expire March 31, 2024.
- Maturity extended to April 12, 2028, with ability to request additional $300M commitment increase.
- Covenants require consolidated net leverage ≤ 4.00x and minimum interest coverage ratio of 3.00x.
- Facility is secured by substantially all personal property; Bank of America remains administrative agent.
- Borrowings bear variable rates: Term SOFR plus 1.75%-2.50% or Base Rate plus 0.75%-1.50%.

## SEC filing metadata
- accession: 0001104659-23-046705
- form_type: 8-K
- ticker: CRS
- cik: 0000017843
- company_name: CARPENTER TECHNOLOGY CORP
- filed_at: 2023-04-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/17843/000110465923046705/0001104659-23-046705-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/17843/000110465923046705/tm2312918d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-046705
- JSON: https://secwatch.observer/filing/0001104659-23-046705.json
- Plain text: https://secwatch.observer/filing/0001104659-23-046705.txt

## Key facts
- Material Agreements
  CARPENTER TECHNOLOGY CORP entered into Second Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, and the other lenders party thereto valued at Revolving credit facility with $350 million initial commitment, expandable to the greater of $300 mi (effective 2023-04-14).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, and the other lenders party thereto
  - Value: Revolving credit facility with $350 million initial commitment, expandable to the greater of $300 mi
  - Effective: 2023-04-14
  source text: On April 14, 2023, Carpenter Technology Corporation (the “Company”) entered into a secured revolving credit facility (the “Credit Facility”) by amending and restating the Company’s existing Amended and Restated Credit Agreement dated as of March 26, 2021 by and among the Company, the financial institutions party thereto, as lenders, Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer, and the other agents and arrangers party thereto, which had been set to expire on March 31, 2024 (the “Existing Credit Agreement”). The Second Amended and Restated Credit Agreement is entered into by and among the Company, Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer, and the other lenders party thereto (collectively, the “Lenders”), JPMorgan Chase Bank, N.A., as syndication agent, PNC Bank, National Association and U.S. Bank, National Association, each, as a documentation agent, and BofA Securities, Inc. and JPMorg
  evidence_url: https://www.sec.gov/Archives/edgar/data/17843/000110465923046705/0001104659-23-046705-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.