Avantor, Inc. (AVTR): debt financing — Avantor refinances $772M term loans at lower rate; former EVP to advise

Avantor, Inc.

Refinanced $772.4M Incremental B-6 Dollar Term Loans at SOFR + 2.00% (down from +2.25% on prior loans).
New loans mature Nov 6, 2027, same maturity as refinanced B-5 loans; proceeds used to repay existing B-5 term loans.
Dr. Gerard Brophy, former EVP Biopharma Production, gets consulting deals: $180K/yr cash + $25K/yr + $50K RSU for SAB chair role through Feb 2027.
Consulting agreements include noncompetition, nonsolicitation, and IP assignment provisions.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Avantor, Inc. incurred term loan of $772,396,875.00 with Goldman Sachs Bank USA at SOFR plus a spread of 2.00% per annum maturing November 6, 2027.

Instrument: term loan
Principal: $772,396,875.00
Counterparty: Goldman Sachs Bank USA
Rate: SOFR plus a spread of 2.00% per annum
Maturity: November 6, 2027
Event: incurrence

Exact text from the filing

the Borrower obtained a $772,396,875.00 tranche of senior secured U.S. dollar term loans (the “Incremental B-6 Dollar Term Loans”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Avantor, Inc. amended Amendment No. 12 with Goldman Sachs Bank USA, as administrative agent and collateral agent valued at $772,396,875.00 (effective 2024-04-02).

Action: amendment
Agreement: credit facility
Counterparty: Goldman Sachs Bank USA, as administrative agent and collateral agent
Value: $772,396,875.00
Effective: 2024-04-02

Exact text from the filing

On April 2, 2024 (the “Effective Date”), Avantor, Inc.’s (the “Company”) wholly owned subsidiary, Avantor Funding, Inc. (the “Borrower”), entered into Amendment No. 12 (the “Credit Agreement Amendment”) to Credit Agreement, dated as of November 21, 2017

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299 debt financings filed in the last 30 days. Browse all debt financings →

Avantor, Inc. filing history →

Source: SEC EDGAR

accession 0001722482-24-000084

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