Carpenter Technology Corporation Announces Proposed $700.0 Million Private Offering of Senior Notes Due 2034
Carpenter Technology (NYSE: CRS) announced a proposed private offering of $700.0 million aggregate principal amount of senior notes due 2034 to qualified institutional buyers under Rule 144A and to certain non‑U.S. investors under Regulation S.
The company intends to use net proceeds, together with cash on hand, to redeem in full its 6.375% senior notes due 2028, repay in full its 7.625% senior notes due 2030, and for general corporate purposes, which may include repayment or repurchase of other indebtedness. The Notes are not registered under the Securities Act and this release is not a redemption notice or an offer to sell.
Carpenter Technology (NYSE: CRS) ha annunciato una proposta di offerta privata di $700,0 milioni di importo principale aggregato di note senior in scadenza nel 2034 a investitori istituzionali qualificati ai sensi della Rule 144A e a determinati investitori non statunitensi ai sensi del Regolamento S.
L'azienda intende utilizzare le proventi netti, insieme alla liquidità disponibile, per rimborsare integralmente le proprie notes senior 6,375% in scadenza nel 2028, rimborsare integralmente le note senior 7,625% in scadenza nel 2030, e per scopi aziendali generali, che possono includere il rimborso o il riacquisto di altri debiti. Le Notes non sono registrate ai sensi del Securities Act e questo comunicato non è un avviso di rimborso né un'offerta di vendita.
Carpenter Technology (NYSE: CRS) anunció una oferta privada propuesta de $700,0 millones en concepto de importe principal agregado de notas senior con vencimiento en 2034 para compradores institucionales calificados conforme a la Regla 144A y para ciertos inversores no estadounidenses bajo el Reglamento S.
La compañía tiene la intención de utilizar los ingresos netos, junto con el efectivo disponible, para canjear en su totalidad sus notas senior 6,375% con vencimiento en 2028, reembolsar en su totalidad sus notas senior 7,625% con vencimiento en 2030, y para fines corporativos generales, que pueden incluir el reembolso o la recompra de otras deudas. Las Notas no están registradas conforme a la Securities Act y este comunicado no es un aviso de canje ni una oferta de venta.
Carpenter Technology (NYSE: CRS)는 Rule 144A에 따라 자격 있는 기관 투자자에게, Regulation S에 따라 비미국 투자자에게 각각 만기 2034의 선순위 채권 $700.0 million의 총 원금 규모를 제안하는 비공개 발행을 발표했습니다.
회사는 순수익과 현금을 합산하여 2028년 만기의 6.375% 선순위 채권을 전액 상환하고, 2030년 만기의 7.625% 선순위 채권도 전액 상환하며, 일반 기업 용도로 사용할 예정이며, 이는 다른 채무의 상환 또는 재매입을 포함할 수 있습니다. 이 채권은 증권법상 등록되지 않았으며, 이 보도자료는 상환 통지나 매도 제안이 아닙니다.
Carpenter Technology (NYSE: CRS) a annoncé une offre privée proposée d’un montant principal agrégé de $700,0 millions de notes seniors arrivant à échéance en 2034, destinées aux acheteurs institutionnels qualifiés en vertu de la Rule 144A et à certains investisseurs non américains en vertu du Regulation S.
La société prévoit d’utiliser le produit net, ainsi que sa trésorerie disponible, pour rembourser intégralement ses notes seniors 6,375% arrivant à échéance en 2028, rembourser intégralement ses notes seniors 7,625% arrivant à échéance en 2030, et à des fins générales d’entreprise, ce qui pourrait inclure le remboursement ou le rachat d’autres dettes. Les Notes ne sont pas enregistrées en vertu du Securities Act et ce communiqué n’est ni un avis de rachat ni une offre de vente.
Carpenter Technology (NYSE: CRS) kündigte ein privates Angebot von $700.0 Millionen Nennbetrag an vorrangigen Anleihen mit Fälligkeit 2034 an qualifizierte institutionelle Käufer gemäß Regel 144A und an bestimmte Nicht-US-Investoren gemäß Regulation S an.
Das Unternehmen beabsichtigt, den Nettoerlös zusammen mit vorhandenen Barmitteln zu verwenden, um seine vorrangigen Anleihen mit der Rendite 6,375% mit Fälligkeit 2028 vollständig zu tilgen, seine vorrangigen Anleihen mit der Rendite 7,625% mit Fälligkeit 2030 vollständig zu tilgen, und für allgemeine Unternehmenszwecke zu verwenden, zu denen die Tilgung oder der Rückkauf anderer Verbindlichkeiten gehören kann. Die Anleihen sind nicht gemäß dem Securities Act registriert, und diese Mitteilung ist kein Rückkaufshinweis oder Angebot zum Verkauf.
Carpenter Technology (NYSE: CRS) أعلنت عن عرض خاص مقترح لسندات senior بقيمة إجمالية قدرها $700.0 مليون تستحق في 2034 للمشترين المؤسسيين المؤهلين بموجب القاعدة 144A وللبعض من المستثمرين غير الأمريكيين بموجب التنظيم S.
تعتزم الشركة استخدام العائد الصافي، إلى جانب النقد المتاح لديها، لاسترداد سنداتها senior 6.375% المستحقة في 2028 بالكامل، وتسديد سنداتها senior 7.625% المستحقة في 2030 بالكامل، ولأغراض مؤسسة عامة، والتي قد تشمل سداد أو إعادة شراء ديون أخرى. السندات غير مسجلة بموجب قانون الأوراق المالية وهذا البيان ليس إشعار استرداد ولا عرضاً للبيع.
- $700.0M proposed senior notes issuance announced
- Planned full redemption of 6.375% notes due 2028
- Planned full repayment of 7.625% notes due 2030
- Offering subject to market and other conditions
- Notes not registered and limited to qualified institutional buyers
- Release does not constitute a redemption notice
Insights
Carpenter plans a $700.0 million senior note offering to refinance nearer‑term higher‑coupon debt and fund general corporate uses.
Carpenter Technology Corporation intends to offer
The business mechanism is straightforward: replace near‑term obligations with longer‑dated debt and preserve liquidity for corporate uses. This reduces upcoming maturity pressure by moving principal out to
Key dependencies and risks are explicit in the text: successful private placement execution and market conditions, as the offering is "subject to market and other conditions." Watch for the pricing, coupon/yield, final size, and any covenants or call features when the offering is launched; those items will determine net borrowing cost and creditor flexibility. Monitor announcements for a formal notice of redemption for the
PHILADELPHIA, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) (the “Company”) today announced its intention to offer, subject to market and other conditions,
The Company intends to use the net proceeds from the offering of the Notes, together with cash on hand, to redeem in full its
The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act or the securities laws of any other jurisdiction.
This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes and shall not constitute an offer, solicitation or sale, nor is it an offer to purchase or the solicitation of an offer to sell the Notes in any jurisdiction in which such offer, solicitation or sale is unlawful. This press release does not constitute a notice of redemption with respect to the
About Carpenter Technology
Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy materials and process solutions for critical applications in the aerospace and defense, medical, and other markets. Founded in 1889, Carpenter Technology has evolved to become a pioneer in premium specialty alloys including nickel, cobalt, and titanium and material process capabilities that solve our customers' current and future material challenges.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected, anticipated or implied. The most significant of these uncertainties are described in the Company’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the fiscal year ended June 30, 2025 and Form 10-Q for the quarter ended September 30, 2025 and the exhibits attached to those filings. They include but are not limited to: (1) the cyclical nature of the specialty materials business and certain end-use markets, including aerospace, defense, medical, energy, transportation, industrial and consumer, or other influences on the Company’s business such as new competitors, the consolidation of competitors, customers, and suppliers or the transfer of manufacturing capacity from the United States to foreign countries; (2) the ability of the Company to achieve cash generation, growth, earnings, profitability, operating income, cost savings and reductions, qualifications, productivity improvements or process changes; (3) the ability to recoup increases in the cost of energy, raw materials, freight or other factors; (4) domestic and foreign excess manufacturing capacity for certain metals; (5) fluctuations in currency exchange and interest rates; (6) the effect of government trade actions, including tariffs; (7) the valuation of the assets and liabilities in the Company’s pension trusts and the accounting for pension plans; (8) possible labor disputes or work stoppages; (9) the potential that our customers may substitute alternate materials or adopt different manufacturing practices that replace or limit the suitability of our products; (10) the ability to successfully acquire and integrate acquisitions; (11) the availability of credit facilities to the Company, its customers or other members of the supply chain; (12) the ability to obtain energy or raw materials, especially from suppliers located in countries that may be subject to unstable political or economic conditions; (13) the Company’s manufacturing processes are dependent upon highly specialized equipment located primarily in facilities in Reading and Latrobe, Pennsylvania and Athens, Alabama for which there may be limited alternatives if there are significant equipment failures or a catastrophic event; (14) the ability to hire and retain a qualified workforce and key personnel, including members of the executive management team, management, metallurgists and other skilled personnel; (15) fluctuations in oil and gas prices and production; (16) the impact of potential cyber attacks and information technology or data security breaches; (17) the ability of suppliers to meet obligations due to supply chain disruptions or otherwise; (18) the ability to meet increased demand, production targets or commitments; (19) the ability to manage the impacts of natural disasters, climate change, pandemics and outbreaks of contagious diseases and other adverse public health developments; (20) geopolitical, economic, and regulatory risks relating to our global business, including geopolitical and diplomatic tensions, instabilities and conflicts, such as the war in Ukraine, the conflict between Israel and HAMAS, the conflict between Israel and Hezbollah, Houthi attacks on commercial shipping vessels and other naval vessels as well as compliance with U.S. and foreign trade and tax laws, sanctions, embargoes and other regulations; (21) challenges affecting the commercial aviation industry or key participants including, but not limited to production and other challenges at The Boeing Company; (22) the impact of a continued shutdown of the U.S. government; and (23) the consequences of the announcement, maintenance or use of the Company’s share repurchase program. Any of these factors could have an adverse and/or fluctuating effect on the Company’s results of operations. The forward-looking statements in this document are intended to be subject to the safe harbor protection provided by Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date of this press release or as of the dates otherwise indicated in such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements.
| Investor Inquiries: | Media Inquiries: |
| John Huyette | Heather Beardsley |
| +1 610-208-2061 | +1 610-208-2278 |
| jhuyette@cartech.com | hbeardsley@cartech.com |
FAQ
What did Carpenter Technology (CRS) announce on November 10, 2025?
How will Carpenter use proceeds from the $700M CRS 2034 offering?
Are the CRS 2034 notes being registered under the Securities Act?
Does this press release serve as a redemption notice for CRS 2028 or 2030 notes?
Who can buy Carpenter's proposed 2034 senior notes (CRS)?
What risks are identified for the proposed CRS $700M offering?
