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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Bank of Amercia Agents $600MM Term Loan for The AZEK Company
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Lenders/Participants
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Bank of America [Administrative Agent, Collateral Agent]
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Structure
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First Lien Term Loan
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Amount
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$600.000
Million
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Borrower(s)
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The AZEK Company
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Description
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The interest rate applicable to loans under the credit facility will be based on term SOFR for the applicable interest period at AZEK’s option, plus an applicable margin of 2.50%. The new credit agreement provided the company with a $600 million first lien term loan facility, the proceeds of which were applied, among other uses, to prepay the obligations in full under the company’s existing first lien term loan credit agreement, which was due in May 2024. In connection with the entry into the new credit agreement, the existing credit agreement was terminated. The credit facility will mature in April 2029, subject to acceleration or prepayment. Commencing on Dec. 31, 2022, the credit facility will amortize in equal quarterly installments of 0.25% of the aggregate principal amount of the loans outstanding, subject to reduction for certain prepayments.
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Industry
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Manufacturing
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| Related Tags |
Bank of America, The AZEK Company
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ABL Advisor
Deal Tables
2025
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