Maravai finalizes $544 million term loan at SOFR plus 300 bps

By Sara Rosenberg

New York, Jan. 14 – Maravai LifeSciences (Maravai Intermediate Holdings LLC) firmed pricing on its $544 million senior secured covenant-lite term loan B due Oct. 19, 2027 (B1/B+) at SOFR plus 300 basis points, the low end of the SOFR plus 300 bps to 325 bps talk, according to a market source.

The term loan still has a 0.5% floor, a par issue price, 101 soft call protection for six months, amortization of 1% per annum and no CSA.

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

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

Closing is expected on Wednesday.

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

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