Azz inc. announces successful completion of term loan b refinancing in leverage-neutral transaction

Fort worth, texas , aug. 17, 2023 /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 existing $1.03 billion 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 + 375 basis points and successfully removed the credit spread adjustment (csa) of 10 basis points resulting in annual interest savings of over $5 million per year.
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