AZZ Inc. Announces Successful Completion of Term Loan B Refinancing in Leverage-Neutral Transaction
AZZAZZ(AZZ) Prnewswire·2024-03-21 04:30

FORT WORTH, Texas, March 20, 2024 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions in North America, today announced the successful repricing of AZZ's currently existing 980millionTermLoanBdueMay13,2029.TherepricingreducestheinterestratemarginontheTermLoanBby50basispointstoSOFR+325basispointsresultinginannualinterestsavingsofapproximately980 million Term Loan B due May 13, 2029. The repricing reduces the interest rate margin on the Term Loan B by 50 basis points to SOFR + 325 basis points resulting in annual interest savings of approximately 5 million per year. Philip Schlom, Chief Financial Officer c ...