Carpenter Technology

Carpenter Technology (NYSE: CRS) plans a private placement of $700 million in senior notes due 2034, targeting qualified institutional buyers and select non-U.S. investors. Net proceeds, combined with cash, will redeem 6.375% notes due 2028 and repay 7.625% notes due 2030, with remaining funds for general corporate purposes. The offering is subject to market conditions. The notes are not registered under the Securities Act. This announcement is not a redemption notice.