European Investor
17 Jul 2025, 09:39
AZZ Inc. Secures $150 Million Receivables-Based Credit Facility with Wells Fargo
AZZ Inc. announced it has entered into a three-year, $150 million accounts receivable securitization facility with Wells Fargo Bank. The facility, set to mature in July 2028, enables AZZ SPE-1 LLC, a special-purpose subsidiary, to borrow up to $150 million based on eligible receivables.
Proceeds will be used to reduce existing debt, lowering interest costs. The facility is part of the company’s broader capital structure strategy and qualifies as a permitted receivables financing under AZZ’s existing credit agreement.
AZZ SPE-1's assets are ring-fenced from AZZ and its subsidiaries, and the facility includes customary covenants and conditions.
AZZ Inc. announced it has entered into a three-year, $150 million accounts receivable securitization facility with Wells Fargo Bank. The facility, set to mature in July 2028, enables AZZ SPE-1 LLC, a special-purpose subsidiary, to borrow up to $150 million based on eligible receivables.
Proceeds will be used to reduce existing debt, lowering interest costs. The facility is part of the company’s broader capital structure strategy and qualifies as a permitted receivables financing under AZZ’s existing credit agreement.
AZZ SPE-1's assets are ring-fenced from AZZ and its subsidiaries, and the facility includes customary covenants and conditions.