VWR talks €500 million seven-year notes to yield 4½% to 4¾%

By Paul A. Harris

Portland, Ore., March 19 – VWR Corp. talked its €500 million offering of seven-year senior notes (B3/B) to yield 4½% to 4¾%, a market source said.

Books are scheduled to close at 11:45 a.m. ET Thursday and the Rule 144A and Regulation S deal is set to price thereafter.

Goldman Sachs & Co. is the bookrunner.

The notes come with three years of call protection.

The Radnor, Pa.-based company plans to use the proceeds to refinance its 7¼% senior notes and its senior secured credit facility, which both mature in 2017, and to provide added liquidity to support its growth initiatives.

The notes are being issued via VWR Funding, Inc., a wholly owned subsidiary of the independent provider of products, services and solutions to laboratory and production facilities.

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