Tuesday, Carpenter Technology Corp. (CRS) successfully completed a $200 million syndicated credit facility. This three year revolving line of credit replaces the five year $150 million revolver due to expire in August, 2010 and the $50 million accounts receivable securitization facility due to expire in March, 2010. The new facility, comprised of nine lenders, was substantially oversubscribed prior to allocations.
Bank of America and JPMorgan Chase served as the Co-Lead Arrangers. Terms of the facility remain largely unchanged from the prior agreement and include the same two financial covenants, debt to total capital and interest coverage ratio.
Carpenter Technology Corp. manufactures, fabricates, and distributes specialty metals primarily in the United States, Europe, the Asia Pacific, Mexico, and Canada.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.