Item 1.01 Entry into a Material Definitive Agreement.

On March 31, 2021, The AZEK Company Inc., a Delaware corporation (the "Company"), its subsidiary, CPG International LLC, a Delaware limited liability company (the "Borrower"), and certain other subsidiaries of the Company entered into a third amendment (the "Amendment") of its Amended and Restated Revolving Credit Agreement, dated as of March 9, 2017 (the "Credit Agreement"), among the Company (as successor-in-interest to CPG Newco LLC), the Borrower (as successor-in-interest to CPG Merger Sub), each of the lenders identified therein and Deutsche Bank AG New York Branch, as administrative agent, collateral agent, swingline lender and issuing bank (the "Agent").

The Amendment, among other changes, (i) extended the maturity of the Credit Agreement to five years after the effective date of the Amendment, (ii) reduced the interest rate margin for Revolving Loans under the Credit Agreement by 25 basis points at all pricing levels under the Availability-based pricing grid, from 1.50%-2.00% to 1.25%-1.75% in the case of Eurocurrency Revolving Loans and from 0.50-1.00% to 0.25-0.75% in the case of ABR Revolving Loans and (iii) made certain other changes to the negative covenants and certain provisions. Capitalized terms used in the foregoing sentence but not otherwise defined herein have the meanings assigned to them in the Credit Agreement. The Amendment also added LIBOR successor provisions to the Credit Agreement.

The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

See Item 1.01 above.

Item 9.01 Financial Statements and Exhibits.

The following exhibits are filed as part of this report:

(d) Exhibits

10.1 Third Amendment dated March 31, 2021 to Amended and Restated Revolving Credit Agreement dated as of March 9, 2017, among Borrower, the Company, the lenders party hereto and the Agent.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses