Avantor discloses price talk on U.S. and euro term loans

By Sara Rosenberg

New York, Nov. 13 – Avantor released price talk on its $1,938,000,000 term loan B (B2/B/BB) due November 2024 and €993 million term loan B (B2/B/BB) due November 2024 with its lender call on Tuesday, according to a market source.

Price talk on the U.S. term loan is Libor plus 350 basis points with a 1% Libor floor and a par issue price, and price talk on the euro term loan is Euribor plus 375 bps with a 0% floor and a par issue price, the source said.

Both term loans have 101 soft call protection for six months.

Goldman Sachs Bank USA is the lead on the deal.

Commitments are due at noon ET on Friday, the source added.

Proceeds will be used to reprice an existing U.S. term loan down from Libor plus 400 bps with a 1% Libor floor and an existing euro term loan down from Euribor plus 425 bps with a 0% floor.

Avantor is a Radnor, Pa.-based provider of integrated, tailored solutions for the life sciences and advanced technology industries.

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