VWR, a provider of products, services and solutions to laboratory and production facilities, announced that it has secured a new senior secured credit facility consisting of a $910 million U.S. dollar denominated term loan A facility due 2020, a €460 million ($513.44 million) Euro denominated term loan B facility due 2022, and a $250 million multi-currency revolving credit facility.

According to a related 8-K filing, Citibank served as administrative agent and collateral agent. Citibank; Barclays; Goldman Sachs; Merrill Lynch Pierce, Fenner & Smith; J.P. Morgan Securities and PNC Capital Markets acted as joint lead arrangers. Barclays and Goldman Sachs were co-syndication agents, and Mizuho Bank, Wells Fargo and BBVA Compass served as co-documentation agents. Sumitomo Mitsui was a senior managing agent, and TD Bank served as managing agent.

Undrawn amounts under the revolving credit facility are available on a revolving credit basis for working capital and general corporate purposes. As part of the transaction, the company repaid in full all outstanding indebtedness under and terminated its existing credit agreement and redeemed all $750 million of its outstanding 7.25% senior notes due 2017.

Greg Cowan, senior vice president and chief financial officer commented: “We are pleased to consummate this transaction, which efficiently refinances a substantial portion of the company’s outstanding debt. The refinancing will provide the contemplated savings that was factored into our 2015 outlook. This refinancing is the next step in our ongoing efforts to reduce interest expense, drive increased cash flows and, by extension, drive value for our shareholders.”