AZZ Inc. Files 8-K for Material Definitive Agreement

TL;DR

AZZ Inc. just signed a big financial deal, filing an 8-K to let everyone know.

AI Summary

On March 20, 2024, AZZ Inc. entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in Texas with IRS number 75-0948250, filed this 8-K report to disclose this event. The filing also includes financial statements and exhibits.

Why It Matters

This filing indicates AZZ Inc. has entered into a significant financial agreement, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements and new financial obligations can introduce financial risks and operational changes for a company.

Key Numbers

• 001-12777 — SEC File Number (Identifies AZZ Inc.'s filing with the SEC.)
• 75-0948250 — IRS Number (AZZ Inc.'s Employer Identification Number.)

Key Players & Entities

• AZZ Inc. (company) — Registrant
• Texas (location) — State of incorporation
• 75-0948250 (identifier) — IRS Employer Identification No.
• March 20, 2024 (date) — Date of Report

FAQ

Filing Documents

• azz-20240320.htm (8-K) — 32KB
• a3rdamendmenttocreditagree.htm (EX-10.1) — 68KB
• azz_tlbxrefinancepr.htm (EX-99.1) — 10KB
• image_2a.jpg (GRAPHIC) — 356KB
• 0000008947-24-000029.txt ( ) — 717KB
• azz-20240320.xsd (EX-101.SCH) — 2KB
• azz-20240320_lab.xml (EX-101.LAB) — 23KB
• azz-20240320_pre.xml (EX-101.PRE) — 13KB
• azz-20240320_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Third Amendment to Credit Agreement On March 20, 2024, AZZ Inc. (the " Company ") entered into the Third Amendment to its existing Credit Agreement referenced below with Citibank, N.A. (" Citi "), as Administrative Agent and Collateral Agent and the requisite lenders (the " Third Amendment "). The Third Amendment amends the Credit Agreement dated as of May 13, 2022 by and among Citi, as Administrative Agent and Collateral Agent, the lenders party thereto from time to time and the Company's subsidiaries party thereto (as thereafter amended, the " Credit Agreement "). The Third Amendment reduces the interest rate of the Term Loan by 50 basis points to SOFR +325 basis points from SOFR +375. The capitalized terms in the preceding sentence shall have the meanings given to such terms in the Credit Agreement. This is the second such repricing the Company has completed within the last year, resulting in interest rate margin savings of 100 basis points in total since issuing the Term Loan B in May 2022. This summary of the Third Amendment does not purport to be complete and is subject to, and is qualified in its entirety by, reference to all the terms of the Third Amendment, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 with respect to the Third Amendment is incorporated by reference in this Item 2.03.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 10.1 Third Amendment to Credit Agreement, dated as of March 20, 2024, by and among AZZ Inc., the Guarantors, the Lenders, and Citibank, N.A., as Administrative Agent and Collateral Agent. 99.1 Press release issued by AZZ Inc., dated March 20, 2024 . 104 Cover Page Interactive Date File (embedded with the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AZZ Inc. Date: March 20, 2024 By: /s/ Tara D. Mackey Tara D. Mackey Chief Legal Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR