{"schema_version":"secwatch.filing_event.v1","accession":"0000008947-24-000029","form_type":"8-K","ticker":"AZZ","cik":"0000008947","company_name":"AZZ INC","filed_at":"2024-03-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:27.207129+00:00","generated_at":"2026-06-04T12:43:09.122367+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"AZZ reprices $980M Term Loan B, cuts rate 50 bps to SOFR+325, saves ~$5M annually","bullets":["Interest rate margin reduced by 50 bps to SOFR + 325 bps, effective March 20, 2024.","Annual interest savings of approximately $5 million; no change to leverage, covenants, or maturity (May 13, 2029).","Second repricing in the last year, totaling 100 bps in margin savings since issuing the Term Loan B in May 2022.","CFO notes disciplined approach to lowering net debt-to-EBITDA to 3.0x or lower in calendar 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0000008947-24-000029","json":"https://secwatch.observer/filing/0000008947-24-000029.json","markdown":"https://secwatch.observer/filing/0000008947-24-000029.md","text":"https://secwatch.observer/filing/0000008947-24-000029.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/8947/000000894724000029/0000008947-24-000029-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/8947/000000894724000029/azz-20240320.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T12:43:09.122367+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":"1171608aed59909d16446c2be63ed20a99e54526","claim":"AZZ INC amended term loan with Citibank, N.A. at SOFR +325 basis points.","evidence_excerpt":"The Third Amendment reduces the interest rate of the Term Loan by 50 basis points to SOFR +325 basis points from SOFR +375.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894724000029/0000008947-24-000029-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 +325 basis points"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"e56b35a1b1e42efb11e2a2744faa22681d4443dd","claim":"AZZ INC amended Third Amendment with Citibank, N.A. valued at SOFR +325 basis points from SOFR +375 (effective 2024-03-20).","evidence_excerpt":"On March 20, 2024, AZZ Inc. (the \" Company \") entered into the Third Amendment to its existing Credit Agreement referenced below with Citibank, N.A. (“ Citi ”), as Administrative Agent and Collateral Agent and the requisite lenders (the \" Third Amendment \").","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894724000029/0000008947-24-000029-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Citibank, N.A."},{"label":"Value","value":"SOFR +325 basis points from SOFR +375"},{"label":"Effective","value":"2024-03-20"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}