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Avantor Performance to launch $1.88 billion credit facility on Tuesday
By Sara Rosenberg
New York, Feb. 17 – Avantor Performance Materials is scheduled to hold a bank meeting in New York on Tuesday morning to launch a $1.88 billion credit facility, according to a market source.
Jefferies Finance LLC is the lead on the deal.
The facility consists of a $75 million five-year revolver, a $1,425,000,000 seven-year covenant-light first-lien term loan and a $380 million eight-year covenant-light second-lien term loan, the source said.
Proceeds will be used to refinance existing debt and fund a dividend.
Avantor is a Center Valley, Pa.-based provider of performance materials and solutions for the life sciences and advanced technology markets.
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