PHILADELPHIA, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE:CRS) (the "Company") announced today that it priced an offering of $700.0 million aggregate principal amount of 5.625% senior notes due 2034 (the "Notes") at par through a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and to certain persons outside of the United States pursuant to Regulation S, each under the Securities Act of 1933, as amended (the "Securities Act"). The offering of the Notes is expected to close on November 20, 2025, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the offering, together with cash on hand, to redeem in full its 6.375% senior notes due 2028, including any accrued but unpaid interest due, redeem in full its 7.625% senior notes due 2030, including any accrued but unpaid interest and premium due, and for general corporate purposes, which may include repayment or repurchase of certain other outstanding indebtedness.

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 6.375% senior notes due 2028 or the 7.625% senior notes due 2030.

About Carpenter Technology

Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy materials and process solutions ...