AZZ Inc. Financing Package for Precoat Acquisition

AZZ is arranging a $1.3 billion 7-year Senior Secured Term Loan B facility, a $400 million revolving credit facility, and $240 million in subordinated convertible notes to be purchased by Blackstone to fund the Precoat acquisition.

“The transaction will be funded with a combination of newly issued debt and equity-linked securities consisting of the following financing package: – New 5-year $400 million Senior Secured Revolving Credit Facility (undrawn at close) – New 7-year $1,300 million Term Loan B – New 8-year $240 million Subordinated Convertible Notes to be purchased by Blackstone, which upon approval of AZZ’s stockholders would convert into Series A Convertible Preferred Shares”

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