AZZ Inc. announced the successful repricing of its existing $434.9 million Term Loan B, which matures on May 13, 2029. This marks the fourth repricing of the Term Loan B since its issuance in May 2022, demonstrating the company's ongoing efforts to optimize its debt structure.
The repricing reduced the interest rate margin on the Term Loan B by an additional 75 basis points, bringing it to SOFR + 175 basis points. This latest reduction is expected to result in annual interest savings of approximately $3.3 million.
Chief Financial Officer Jason Crawford highlighted that these repricings have collectively resulted in total interest rate margin savings of 250 basis points. The company's net debt to EBITDA leverage ratio stood at 1.7x as of May 2025, reflecting a disciplined approach to debt reduction and financial management.
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