Maravai launches $545.5 million term loan at SOFR plus 300-325 bps

By Sara Rosenberg

New York, Jan. 10 – Maravai LifeSciences (Maravai Intermediate Holdings LLC) launched without a lender call on Monday a $545.5 million senior secured covenant-lite term loan B due Oct. 19, 2027 (B1/B+) with price talk of SOFR plus 300 basis points to 325 bps with a 0.5% floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, amortization of 1% per annum and no CSA, the source said.

Morgan Stanley Senior Funding Inc. is the lead arranger on the deal.

Commitments are due on Friday, the source added.

Proceeds will be used to reprice an existing term loan B.

Maravai is a San Diego-based provider of life science reagents and services.

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