Carpenter Technology Corporation CRS today announced that it has priced an underwritten public offering of $250,000,000 in aggregate principal amount of its 5.20% senior notes due 2021. Carpenter Technology Corporation expects to use the net proceeds from the issuance of the senior notes to repay $100 million in principal amount of Carpenter Technology Corporation's medium term notes, Series C at 7.625% due August 2011. Carpenter Technology Corporation intends to use the remaining net proceeds from the offering for general corporate purposes, which may include additions to working capital, capital expenditures, repayment of debt, the financing of acquisitions, joint ventures and other business combination opportunities or stock repurchases.
J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers of the offering.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in