Avantor launches $220 million credit facility via Credit Suisse

By Paul A. Harris

Portland, Ore., June 9 - Avantor Performance Materials Holdings, SA launched a $220 million credit facility at a Thursday bank meeting, according to market sources.

Credit Suisse Securities (USA) LLC is leading the deal.

The facility features a $185 million six-year term loan and a $35 million revolving credit facility.

The Phillipsburg, N.J.-based chemical company plans to use the proceeds to refinance debt and fund an acquisition.

Avantor, formerly Mallinckrodt Baker, was acquired from Covidien in August 2010 by an affiliate of New Mountain Capital.

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