Avantor Performance talks $185 million term loan at Libor plus 400 bps

By Sara Rosenberg

New York, June 10 - Avantor Performance Materials Holdings SA is talking its $185 million six-year term loan at Libor plus 400 basis points with a 1.25% Libor floor and an original issue discount of 991/2, according to a market source.

The company's $220 million credit facility (Ba3/BB-) also includes a $35 million revolver.

Credit Suisse Securities (USA) LLC is the lead bank on the deal that launched with a bank meeting on Thursday afternoon.

Proceeds will be used to refinance existing debt and fund an acquisition.

Avantor is a Phillipsburg, N.J.-based chemical company.

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