Loan & DebtJul 17, 2026, 04:47 PM
Avantor Subsidiary Refinances €374.2M Euro Term Loans at Lower Rate
AI Summary
Avantor, Inc.'s wholly owned subsidiary, Avantor Funding, Inc., entered into Amendment No. 15 to its Credit Agreement. This amendment secured €374.2 million in new Incremental B-7 Euro Term Loans, which will refinance existing Euro term loans. The new loans carry a lower interest rate of EURIBO Rate plus 2.00%, compared to the previous rate of EURIBO Rate plus 2.50%, and mature on October 9, 2032.
Key Highlights
- Avantor Funding obtained €374.2 million in new Incremental B-7 Euro Term Loans.
- The new loans bear interest at EURIBO Rate + 2.00% per annum.
- These new loans replaced existing Euro term loans with an interest rate of EURIBO Rate + 2.50%.
- The refinancing results in a 0.50% reduction in the interest spread.
- The Incremental B-7 Euro Term Loans mature on October 9, 2032.
- A 1.00% prepayment premium applies if refinanced within six months at a lower effective yield.
Price Impact
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