• Syndicated new $3.5 billion credit facilities with 30 participating banks
• Secured $1 billion revolving credit facility and $2.5 billion term loan
• Reduced bridge facility commitments for AZEK transaction from $4.3 billion to $1.7 billion

James Hardie Industries plc (ASX: JHX) announced the successful syndication of new credit facilities totaling $3.5 billion to support its operations and planned transaction with The AZEK Company Inc. (AZEK). The facilities include a $1 billion revolving credit facility and $2.5 billion senior secured Term Loan A split between a $750 million 3-year tranche and $1,750 million 5-year tranche. The syndication received broad support from 30 participating banks. In connection with the new credit facilities, the bridge facility commitments under the previous commitment letter for the AZEK transaction were reduced from $4.3 billion to $1.7 billion. The facilities will be priced based on the company's Consolidated Net Leverage Ratio, with the 3-year term loan facility priced between 1.25% to 1.875% over Term SOFR and the 5-year facility priced between 1.375% to 2.00% over Term SOFR. The company also entered into an interest rate swap agreement to fix the 3-month SOFR at 3.79% on $1 billion notional through June 2028.