---
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"
generated_at: "2026-06-17T23:16:31.309736+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Crane Co. signs $800M credit facilities to finance spin-off

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-074893
- JSON: https://secwatch.observer/filing/0001193125-23-074893.json
- Plain text: https://secwatch.observer/filing/0001193125-23-074893.txt

## Key facts
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: committed amount of $500 million
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Rate: alternate base rate plus a margin ranging from 0.50% to 1.25% or adjusted term S
  - Maturity: March 17, 2028
  - Event: incurrence
  source text: a senior unsecured revolving facility in an aggregate committed amount of $500 million (the “Revolving Facility”), which matures on March 17, 2028
  evidence_url: https://www.sec.gov/Archives/edgar/data/1944013/000119312523074893/0001193125-23-074893-index.htm
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $300 million
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Rate: adjusted term SOFR rate plus a credit spread adjustment of 0.10% plus a margin r
  - Maturity: March 17, 2026
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1944013/000119312523074893/0001193125-23-074893-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and the other agents and arrangers party thereto
  - Value: aggregate principal amount of $300 million the Term Facility and committed amount of $500 million th
  - Effective: 2023-03-17
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1944013/000119312523074893/0001193125-23-074893-index.htm

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