AZZ INC (AZZ): debt financing — AZZ reprices $400M revolver, cutting interest rate margins by up to 100 bps

AZZ INC

Interest rate margin on revolving loans reduced from 275-350 bps to 175-275 bps.
Commitment fee reduced from 25-37.5 bps to 20-30 bps; letter of credit fee cut from 425 bps to 175-275 bps.
CFO says repricing will result in significantly lower interest costs through facility maturity.
Repricing completed on February 27, 2025; press release issued March 3, 2025.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AZZ INC amended credit facility with Citibank, N.A., as Administrative Agent and Collateral Agent and the requisite lenders at margins ranging from 175 basis points to 275 basis points (subject to leverage r.

Instrument: credit facility
Counterparty: Citibank, N.A., as Administrative Agent and Collateral Agent and the requisite lenders
Rate: margins ranging from 175 basis points to 275 basis points (subject to leverage r
Event: amendment

Exact text from the filing

The Fifth Amendment (a) decreased the interest rate margin applicable to the Revolving Credit Loans from margins ranging from 275 basis points to 350 basis points (subject to leverage ratio step-downs) to margins ranging from 175 basis points to 275 basis points (subject to leverage ratio step-downs);

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Source: SEC EDGAR

accession 0000008947-25-000028

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