AZZ enters amended Wells Fargo credit agreement, extends revolving loan maturity to May 2029

AZZ Inc.

AZZ Inc.

AZZ

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  • AZZ entered Seventh Amendment to its May 13, 2022 credit agreement with Wells Fargo as administrative agent on May 7, 2026.
  • Amendment replaced initial revolving credit commitments with extended revolving credit commitments, setting maturity date at May 7, 2029.
  • Pricing tightened across revolver terms, cutting interest rate margins to 125-225 basis points from 175-275 basis points, subject to leverage-based step-downs.
  • Commitment fee range reduced to 15-25 basis points from 20-30 basis points, subject to leverage-based step-downs.
  • Letter of credit fee range lowered to 125-225 basis points from 175-275 basis points, subject to leverage-based step-downs.


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