Avantor repays $1.6 billion of senior secured term loan debt

By Angela McDaniels

Tacoma, Wash., May 21 – Avantor Inc. repaid $1.02 billion of outstanding debt under its senior secured dollar term loan and $582 million of outstanding debt under its senior secured euro term loan, according to a company news release.

The company used a portion of the proceeds of its $3.33 billion initial public offering of common stock and the sale of $1.04 billion of series A mandatory convertible preferred stock.

The remaining $2.63 billion of proceeds were used to redeem all outstanding shares of its series A preferred stock.

Avantor is a Radnor, Pa.-based manufacturer and marketer of materials for the life sciences, pharmaceutical, biomaterial and research/diagnostic markets.

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