AZZ reprices $890M Term Loan B, cuts margin 75 bps to SOFR+250; expects $7M annual savings

AZZ INC

Reduced Term Loan B interest rate margin by 75 bps to Adjusted Term SOFR + 250 bps (from +325 bps).
Third repricing since May 2022; aggregate margin reduction of 185 bps.
Expects annual interest savings of approximately $7 million on $890 million outstanding.
No changes to leverage, covenants, or maturity date (May 13, 2029).
CFO cites strong market demand and disciplined debt reduction since Precoat Metals acquisition.

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