AZZ Inc. Announces Successful Repricing of its Senior Secured Revolving Line of Credit

Core Viewpoint - AZZ Inc. has successfully completed the repricing of its $400 million Senior Secured Revolving Line of Credit, resulting in significantly lower interest costs and demonstrating the company's commitment to reducing interest expenses [1][2]. Financial Summary - The interest rate margin for the Revolving Credit Loans has been reduced from 275-350 basis points to 175-275 basis points, subject to leverage ratio step-downs [1]. - The Commitment Fee applicable to the Revolving Credit Loans has decreased from 25-37.5 basis points to 20-30 basis points, also subject to leverage ratio step-downs [1]. - The Letter of Credit Fees have been reduced from 425 basis points to a range of 175-275 basis points, subject to leverage ratio step-downs [1]. Company Overview - AZZ Inc. is recognized as the leading independent provider of hot-dip galvanizing and coil coating solutions in North America, serving a diverse range of end-markets [2]. - The company's business segments offer sustainable metal coating solutions that enhance the longevity and appearance of essential infrastructure and products [2].