{"schema_version":"secwatch.filing_event.v1","accession":"0000008947-23-000145","form_type":"8-K","ticker":"AZZ","cik":"0000008947","company_name":"AZZ INC","filed_at":"2023-08-17T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.947492+00:00","generated_at":"2026-06-11T08:10:33.243827+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"AZZ reprices $1.03B Term Loan B, reducing rate by 50 bps to SOFR+375","bullets":["Repriced $1.03B Term Loan B due May 13, 2029; margin cut 50 bps to SOFR+375 and CSA of 10 bps removed.","Annual interest savings of over $5 million with no change to leverage, covenants, or maturity.","Since Precoat Metals acquisition in May 2022, AZZ has reduced both principal and rate on the Term Loan B.","CFO targets net debt-to-EBITDA ratio of 3.0x or lower in calendar year 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0000008947-23-000145","json":"https://secwatch.observer/filing/0000008947-23-000145.json","markdown":"https://secwatch.observer/filing/0000008947-23-000145.md","text":"https://secwatch.observer/filing/0000008947-23-000145.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/8947/000000894723000145/0000008947-23-000145-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/8947/000000894723000145/azz-20230817.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T08:10:33.243827+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7ca53623fb20ae03e10d2f61e51cb3eaa33cf6f1","claim":"AZZ INC amended term loan with Citibank, N.A. at SOFR + 375 basis points.","evidence_excerpt":"The First Amendment reduces the applicable margin for the Initial Term Loan (as defined in the Credit Agreement) by 50 basis points to SOFR + 375 basis points and removed the credit spread adjustment of 10 basis points.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894723000145/0000008947-23-000145-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Counterparty","value":"Citibank, N.A."},{"label":"Rate","value":"SOFR + 375 basis points"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"9085d85429c50842d7f0af2ff1903e36a1947461","claim":"AZZ INC amended First Amendment to Credit Agreement with Citibank, N.A. valued at reduces the applicable margin for the Initial Term Loan by 50 basis points to SOFR + 375 basis point (effective 2023-08-17).","evidence_excerpt":"On August 17, 2023, AZZ Inc. (the \" Company \") entered into the First Amendment by and among the Company, certain subsidiaries of the Company party thereto as guarantors (the \" Guarantors \"), the lenders from time to time party thereto (collectively, the “ Lenders ”) and Citibank, N.A. (“ Citi ”), as Administrative Agent and Collateral Agent (the \" First Amendment \").","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894723000145/0000008947-23-000145-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Citibank, N.A."},{"label":"Value","value":"reduces the applicable margin for the Initial Term Loan by 50 basis points to SOFR + 375 basis point"},{"label":"Effective","value":"2023-08-17"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}