Citigroup Global To Arrange VWR $200MM Term Loans
VWR Funding, the parent company of VWR International, a global distributor of laboratory supplies and services, announced it intends to commence an offering of $200 million in aggregate principal amount of senior secured term loans due April 3, 2017.
VWR said Citigroup Global Markets will act as sole lead arranger and bookrunner for the proposed senior secured term loan due 2017.
The company said it intends to use the net proceeds from the sale of the Loans to redeem a portion of its non-extended dollar term loans due June 29, 2014.
The loan will be senior secured obligations of the company and will be guaranteed by certain of its domestic subsidiaries. The loan will be issued with substantially the same terms and conditions as the company’s existing extended dollar term loans with the addition of a 12 month 101 soft call.