09:14 AM EDT, 09/27/2024 (MT Newswires) -- AZEK Company ( AZEK ) said Friday it entered into a credit agreement for an $815 million loan facility.

The facility consists $440 million first-lien term loan facility and a $375 million first-lien revolving credit facility.

The proceeds of the credit agreement were applied to refinance outstanding obligations under the company's existing term loan credit agreement and its existing asset-based loan credit agreement.

The refinancing reduces about $150 million in the company's funded debt, AZEK ( AZEK ) Chief Operations and Chief Financial Officer Peter Clifford said in a statement.