AZZ Inc. Announces Successful Refinancing of Term Loan B, Achieving $3.3 Million in Annual Interest Savings
AZZ Inc., a leading provider of galvanizing and coil coating solutions in North America, has successfully completed a refinancing of its Term Loan B. This repricing initiative has led to a 75-basis point reduction in the interest rate margin, now set at SOFR + 175 basis points. The move is expected to generate annual interest savings of approximately $3.3 million. This marks the fourth successful repricing of the loan since its issuance in May 2022, resulting in a total interest rate margin savings of 250 basis points. The company has maintained its leverage ratio and covenants unchanged, with the maturity date remaining set for May 13, 2029. As of May 2025, AZZ Inc.'s net debt to EBITDA leverage ratio stands at a disciplined 1.7x.
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