Avantor sets Thursday investor call for €550 million five-year notes

By Paul A. Harris

Portland, Ore., Oct. 28 – Avantor Funding, Inc. (B1/BB-/BB-) set a conference call at 7 a.m. ET on Thursday to present its €550 million offering of five-year senior first-lien notes to investors, according to a market source.

Left active bookrunner Goldman Sachs & Co. LLC will bill and deliver. Citigroup Global Markets Inc. is a joint active bookrunner.

Barclays, J.P. Morgan Securities LLC and BofA Securities Inc. are joint bookrunners.

PNC Capital Markets LLC, HSBC Securities (USA) Inc. and Jefferies LLC are the co-managers.

The Rule 144A and Regulation S notes become callable after two years at par plus 50% of the coupon.

The Radnor, Pa.-based company plans to use the proceeds, along a new $1.35 billion term loan, borrowings under its existing accounts receivable facility and cash on its balance sheet, to redeem all of its euro-denominated 4¾% notes due 2024 and dollar-denominated 6% notes due 2024.

Avantor supplies mission critical products and services to customers in the life sciences, advanced technologies and applied materials industries.

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