{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-074893","form_type":"8-K","ticker":"CR","cik":"0001944013","company_name":"Crane Co","filed_at":"2023-03-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.480214+00:00","generated_at":"2026-06-17T23:16:31.309736+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Crane Co. signs $800M credit facilities to finance spin-off","bullets":["Credit Agreement includes $300M term loan maturing in 2026 and $500M revolver maturing in 2028.","Borrowings priced at SOFR+1.50%-2.25% or base rate+0.50%-1.25% based on leverage.","Covenants: max total net leverage 3.50x and min interest coverage 3.00x, tested quarterly.","Term loan requires quarterly amortization at 0.625% (first year) then 1.25%.","Proceeds intended to fund Crane Holdings' spin-off of Aerospace & Electronics, Process Flow, and Engineered Materials segments."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-074893","json":"https://secwatch.observer/filing/0001193125-23-074893.json","markdown":"https://secwatch.observer/filing/0001193125-23-074893.md","text":"https://secwatch.observer/filing/0001193125-23-074893.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1944013/000119312523074893/0001193125-23-074893-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1944013/000119312523074893/d452497d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T23:16:31.309736+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"bc8707043fb399da7e852bfee76b7cfc9e2adf75","claim":"Crane Co incurred revolving credit of committed amount of $500 million with JPMorgan Chase Bank, N.A., as administrative agent at alternate base rate plus a margin ranging from 0.50% to 1.25% or adjusted term S maturing March 17, 2028.","evidence_excerpt":"a senior unsecured revolving facility in an aggregate committed amount of $500 million (the “Revolving Facility”), which matures on March 17, 2028","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1944013/000119312523074893/0001193125-23-074893-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"committed amount of $500 million"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as administrative agent"},{"label":"Rate","value":"alternate base rate plus a margin ranging from 0.50% to 1.25% or adjusted term S"},{"label":"Maturity","value":"March 17, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"cacf883ab2054c159e25b60dd76a6a9bf3fb79d5","claim":"Crane Co incurred term loan of $300 million with JPMorgan Chase Bank, N.A., as administrative agent at adjusted term SOFR rate plus a credit spread adjustment of 0.10% plus a margin r maturing March 17, 2026.","evidence_excerpt":"provides for a senior unsecured term loan facility in an aggregate principal amount of $300 million (the “Term Facility”), which matures on March 17, 2026","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1944013/000119312523074893/0001193125-23-074893-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$300 million"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as administrative agent"},{"label":"Rate","value":"adjusted term SOFR rate plus a credit spread adjustment of 0.10% plus a margin r"},{"label":"Maturity","value":"March 17, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"60d20e41eff8dc413054f8312b8f9a6da283d0df","claim":"Crane Co entered into Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent and the other agents and arrangers party thereto valued at aggregate principal amount of $300 million the Term Facility and committed amount of $500 million th (effective 2023-03-17).","evidence_excerpt":"On March 17, 2023, Crane Company (the “Company”), a wholly-owned subsidiary of Crane Holdings, Co. (“Crane Holdings”), entered into a credit agreement (the “Credit Agreement”), by and among the Company, as borrower, CR Holdings, C.V., a wholly-owned subsidiary of the Company, as a subsidiary borrower, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent and the other agents and arrangers party thereto.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1944013/000119312523074893/0001193125-23-074893-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"JPMorgan Chase Bank, N.A., as administrative agent and the other agents and arrangers party thereto"},{"label":"Value","value":"aggregate principal amount of $300 million the Term Facility and committed amount of $500 million th"},{"label":"Effective","value":"2023-03-17"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}