Loan & DebtMay 8, 2026, 03:01 PM
AZZ Extends Credit Facility to May 2029; Reduces Interest Rates
AI Summary
AZZ Inc. entered into the Seventh Amendment to its Credit Agreement on May 7, 2026, with Wells Fargo Bank, N.A. This amendment extends the maturity date of its revolving credit commitments to May 7, 2029. Additionally, the company will benefit from reduced interest rate margins, commitment fees, and letter of credit fees, which are subject to leverage ratio step-downs.
Key Highlights
- Seventh Amendment to Credit Agreement entered on May 7, 2026.
- Extended Revolving Credit Commitments maturity date to May 7, 2029.
- Decreased interest rate margin from 175-275 basis points to 125-225 basis points.
- Reduced Commitment Fee from 20-30 basis points to 15-25 basis points.
- Reduced Letter of Credit Fees from 175-275 basis points to 125-225 basis points.
Price Impact
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