VWR to pay down revolver, term loan with funds from new notes

By Marisa Wong

Madison, Wis., March 17 – VWR Corp. plans to repay outstanding borrowings under its multicurrency revolving loan facility and accounts receivable facility and a portion of its U.S. dollar-denominated term loans using proceeds from an offering of notes.

The company announced on Tuesday that it plans to issue €500 million of senior notes due 2022.

Management believes the offering will provide VWR with added flexibility to refinance its 7¼% senior notes and its senior secured credit facility, which both mature in 2017, and with added liquidity to support its growth initiatives, according to a press release.

VWR is a Radnor, Pa.-based provider of products, services and solutions to laboratory and production facilities.

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