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Avantor® Announces Upsizing and Pricing of Offering of €650.0 Million of Senior First Lien NotesRADNOR, Pa., Oct. 30, 2020 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR) ("Avantor"), a leading global provider of mission-critical products and services to customers in the life sciences, advanced technologies and applied materials industries, announced today the pricing of the previously announced private offering by its wholly-owned subsidiary, Avantor Funding, Inc. (the "Issuer"), of €650.0 million aggregate principal amount of 2.625% Senior First Lien Notes due 2025 (the "Notes"). The principal amount of the Notes has been upsized from the €550.0 million previously announced. The Notes will mature on November 1, 2025. The offering is expected to close on November 6, 2020, subject to customary closing conditions. The Notes will be guaranteed on a joint and several basis by Vail Holdco Sub LLC, the Issuer's direct parent and a direct wholly-owned subsidiary of Avantor ("Holdco"), and by each of Holdco's wholly-owned domestic subsidiaries that guarantees obligations under the Issuer's senior secured credit facilities. The Notes will be secured on a first priority basis by substantially all of the tangible and intangible assets of the Issuer and the guarantors that secure obligations under the Issuer's senior secured credit facilities. The Issuer intends to use the net proceeds from the sale of the Notes, along with the net proceeds from an incremental term loan financing, borrowings under Avantor's A/R facility and cash on hand, to redeem all of its 6.000% Senior First Lien Notes due 2024 and 4.750% Senior First Lien Notes due 2024 and to pay all fees and expenses related thereto. The offering of the Notes was made in a private transaction in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), in the United States only to persons reasonably believed to be "qualified institutional buyers," as that term is defined in Rule 144A under the Securities Act, or outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or the securities laws of any other juisdiction and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the Notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Avantor Forward-Looking and Cautionary Statements Media Contact Investor Relations Contact
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