AZZ Inc. Secures Financing Package Including Blackstone Convertible Notes

AZZ funded the Precoat acquisition with a combination of newly issued debt and equity-linked securities, including a $400 million revolving credit facility, a $1,300 million Term Loan B, and $240 million in subordinated convertible notes purchased by Blackstone.

“AZZ funded the transaction with a combination of newly issued debt and equity-linked securities consisting of the following financing package: – 5-year $400 million Senior Secured Revolving Credit Facility (undrawn at close) – 7-year $1,300 million Term Loan B – 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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