In this announcement on 30 January 2015, AZZ refer to 3 year leases with two year options where possible.
We know AZZ is very clever with the way they word announcements, so I take this to mean they have a 3 year lease.
Now, AZZ don't say when the 3 year lease started, so absolute best case is that they expire 30 January 2018.
(My guess is that it is earlier, as AZZ have conveniently omitted the lease start date).
Quite ridiculous that noteholders are being asked to vote on extending the maturity, when it could surpass the lease expiry date!!!
Easy solution = Investigative Accountant, ohhh wait AZZ refuse to let that happen....
AZZ Price at posting:
50.0¢ Sentiment: None Disclosure: Held