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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.