AZZ (AZZ) said Monday that it finalized the repricing of its $400 million senior secured revolving line of credit.
The repricing decreases the interest rate margin on its revolving credit loans to between 175 basis points and 275 basis points from 275 basis points to 350 basis points, the company said.
The new terms also reduce the commitment fee applicable to the revolving credit loans to between 20 basis points and 30 basis points from 25 basis points to 37.5 basis points.
The new agreement also reduces letter of credit fees to a range of 175 basis points to 275 basis points from 425 basis points, AZZ said.
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