secwatch.observer — SEC 8-K summary
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Issuer:     CARPENTER TECHNOLOGY CORP (CRS)
CIK:        0000017843
Form:       8-K
Filed at:   2023-04-18T23:59:59+00:00
Accession:  0001104659-23-046705
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Carpenter Technology closes $350M revolving credit facility, extends maturity to 2028
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/17843/000110465923046705/0001104659-23-046705-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/17843/000110465923046705/tm2312918d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-046705

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