debt
confidence high
sentiment neutral
materiality 0.55
Maravai amends credit agreement; replaces LIBOR with SOFR, reduces interest margins, and refinances $544M term loans.
MARAVAI LIFESCIENCES HOLDINGS, INC.
- Amendment replaces LIBOR with Term SOFR; interest margin on Term SOFR loans reduced to 3.00% from 3.75%-4.25%.
- Base rate floor for term loans lowered from 2.00% to 1.50%; Term SOFR floor set at 0.50% (term) and 0.00% (revolving).
- New $544M Tranche B Term Loan facility refinances existing $600M Initial Term Loans via cashless conversion or new lender commitments.