---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-074898"
form_type: "8-K"
ticker: "CXT"
cik: "0000025445"
company_name: "Crane NXT, Co."
filed_at: "2023-03-20T23:59:59+00:00"
generated_at: "2026-06-17T23:16:51.193724+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Crane Holdings secures $1.65B in credit facilities for upcoming separation into Crane Company and Crane NXT

## Summary
- Crane Company: $500M revolver and $300M term loan; expected net debt $100-150M (<0.5x EBITDA).
- Crane NXT: $500M revolver, $350M term loan, retains $545M fixed-rate notes; net debt ~$645-695M (1.5-2x EBITDA).
- Crane Company acquisition capacity ~$1B at separation, growing to $4B by 2028.
- Crane NXT acquisition capacity ~$1B at separation, growing to $3B by 2027.
- Separation on track for April 3, 2023; JPMorgan Chase leads syndicate of 14 banks.

## SEC filing metadata
- accession: 0001193125-23-074898
- form_type: 8-K
- ticker: CXT
- cik: 0000025445
- company_name: Crane NXT, 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/25445/000119312523074898/0001193125-23-074898-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/25445/000119312523074898/d485992d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-074898
- JSON: https://secwatch.observer/filing/0001193125-23-074898.json
- Plain text: https://secwatch.observer/filing/0001193125-23-074898.txt

## Key facts
- Debt Financings
  Crane NXT, Co. incurred term loan of $350 million with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at adjusted term SOFR rate plus a credit spread adjustment of 0.10% plus a margin a maturing March 17, 2026.
  - Instrument: term loan
  - Principal: $350 million
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
  - Rate: adjusted term SOFR rate plus a credit spread adjustment of 0.10% plus a margin a
  - Maturity: March 17, 2026
  - Event: incurrence
  source text: The Credit Agreement provides for a senior secured term loan facility in an aggregate principal amount of $350 million (the "Term Facility"), which matures on March 17, 2026
  evidence_url: https://www.sec.gov/Archives/edgar/data/25445/000119312523074898/0001193125-23-074898-index.htm
- Debt Financings
  Crane NXT, Co. incurred revolving credit of $500 million with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent at adjusted term SOFR rate plus a credit spread adjustment of 0.10% plus a margin a maturing March 17, 2028.
  - Instrument: revolving credit
  - Principal: $500 million
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
  - Rate: adjusted term SOFR rate plus a credit spread adjustment of 0.10% plus a margin a
  - Maturity: March 17, 2028
  - Event: incurrence
  source text: a senior secured 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/25445/000119312523074898/0001193125-23-074898-index.htm
- Material Agreements
  Crane NXT, Co. entered into Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent and the other agents and arrangers party thereto (effective 2023-03-17).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent and the other agents and arrangers party thereto
  - Effective: 2023-03-17
  source text: On March 17, 2023, Crane Holdings, Co. (the “Company”) entered into a credit agreement (the “Credit Agreement”), by and among the Company, as borrower, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent and the other agents and arrangers party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/25445/000119312523074898/0001193125-23-074898-index.htm

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