Carpenter Tech plans $700M senior notes due 2034 to refinance existing debt

CARPENTER TECHNOLOGY CORP

Announces $700M aggregate principal amount of senior notes due 2034 via private placement.
Proceeds plus cash to redeem 6.375% senior notes due 2028 and repay 7.625% senior notes due 2030.
Credit facility amendment: revolver from $350M secured to $500M unsecured; accordion up to $650M; maturity extended to 5 years.
Close expected concurrently with or prior to the offering; subject to market conditions.

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