Avantor (NYSE: AVTR) refinances €374,208,296.62 in Euro term loans
Rhea-AI Filing Summary
Avantor, Inc., through its wholly owned subsidiary Avantor Funding, Inc., entered into Amendment No. 15 to its Credit Agreement on July 14, 2026. Under this amendment, the subsidiary obtained a new tranche of senior secured Euro-denominated term loans totaling €374,208,296.62, designated as Incremental B-7 Euro Term Loans.
These loans bear interest at the floating EURIBO Rate + 2.00% per annum and replace certain existing senior secured euro term loans that carried a rate of EURIBO Rate + 2.50%, while maintaining the same final stated maturity of October 9, 2032. The Incremental B-7 Euro Term Loans are guaranteed by the same subsidiaries and secured by the same collateral as the existing credit facilities on a pari passu basis.
The amendment also introduces a 1.00% prepayment premium if, within six months of the effective date, the Borrower prepays, replaces or refinances these Incremental B-7 Euro Term Loans with broadly syndicated term B credit facilities that have a lower effective yield, excluding transactions linked to a change of control or certain transformative acquisitions.
Positive
- None.
Negative
- None.
Insights
Analyzing...
8-K Event Classification
3 items: 1.01, 2.03, 9.01
3 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Incremental B-7 Euro Term Loans principal: €374,208,296.62
New loan interest spread: EURIBO Rate + 2.00% per annum
Replaced loan interest spread: EURIBO Rate + 2.50% per annum
+2 more
5 metrics
Incremental B-7 Euro Term Loans principal
€374,208,296.62
Principal amount of new senior secured Euro-denominated term loan tranche
New loan interest spread
EURIBO Rate + 2.00% per annum
Interest terms for Incremental B-7 Euro Term Loans
Replaced loan interest spread
EURIBO Rate + 2.50% per annum
Interest terms on certain existing senior secured euro term loans refinanced
Final stated maturity
October 9, 2032
Maturity date of Incremental B-7 Euro Term Loans
Prepayment premium
1.00%
Premium on certain prepayments, replacements or refinancings within six months
Key Terms
Incremental B-7 Euro Term Loans, Credit Agreement Amendment, pari passu, prepayment premium, +1 more
5 terms
Incremental B-7 Euro Term Loans financial
"the Borrower obtained a €374,208,296.62 tranche of senior secured Euro-denominated term loans (the “Incremental B-7 Euro Term Loans”)"
Credit Agreement Amendment financial
"entered into Amendment No. 15 to Credit Agreement (the “Credit Agreement Amendment”)"
pari passu financial
"secured by the same collateral ... that secures the Borrower’s obligations under the Credit Agreement on a pari passu basis"
An instruction that different claims, securities, or creditors are treated equally and share rights or payments on the same priority level. For investors, it means their position will be paid or have voting power alongside others in the same class rather than being favored or subordinated—think of several people standing in one bus line who all get on together rather than some cutting ahead. That parity affects expected recovery in reorganizations, dividend order, and relative risk.
term B loans financial
"credit facilities in the form of similar term B loans that are broadly marketed or syndicated"
Term B loans are large, longer‑dated bank loans made to companies, often used to fund big acquisitions or refinance existing debt; think of them as a long-term mortgage a company takes out but sold to a group of institutional investors rather than kept by one bank. They matter to investors because they usually pay higher interest than plain corporate bonds and are widely traded by funds, so changes in demand, credit quality or interest rates can affect the value and yield of these loans in a portfolio.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What credit agreement change did Avantor (AVTR) disclose on July 14, 2026?
Avantor disclosed that its subsidiary entered Amendment No. 15 to the existing Credit Agreement, adding a new €374,208,296.62 Incremental B-7 Euro Term Loan tranche. The amendment updates interest terms, maturity details and prepayment provisions for these senior secured Euro-denominated term loans.
How large is Avantor (AVTR)'s new Incremental B-7 Euro Term Loan tranche?
The new Incremental B-7 Euro Term Loan tranche totals €374,208,296.62. This senior secured Euro-denominated term loan replaces and refinances certain existing Euro term loans under Avantor’s Credit Agreement, maintaining the same stated maturity date while modifying pricing and other related terms.
What interest rate applies to Avantor (AVTR)'s new Euro term loans?
The Incremental B-7 Euro Term Loans bear interest at the floating EURIBO Rate plus 2.00% per annum. They replace prior senior secured euro term loans that were priced at the floating EURIBO Rate plus 2.50%, reducing the spread while keeping the same final maturity date.
When do Avantor (AVTR)'s Incremental B-7 Euro Term Loans mature?
The final stated maturity of the Incremental B-7 Euro Term Loans is October 9, 2032. This matches the scheduled maturity of the refinanced senior secured euro term loans they replace, so the amendment primarily affects pricing and prepayment terms, not loan tenor.
How are Avantor (AVTR)'s Incremental B-7 Euro Term Loans secured and guaranteed?
The Incremental B-7 Euro Term Loans are guaranteed by the same subsidiaries that guarantee Avantor’s existing credit facilities and are secured by the same collateral on a pari passu basis, aligning their security package with the company’s other senior secured obligations.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 14, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of principal executive offices, including zip code)
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement
On July 14, 2026 (the “Effective Date”), Avantor Funding, Inc. (the “Borrower”), a wholly owned subsidiary of Avantor, Inc. (the “Company”), entered into Amendment No. 15 to Credit Agreement (the “Credit Agreement Amendment”), which amended that certain Credit Agreement, originally dated as of November 21, 2017 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time prior to the Effective Date, the “Credit Agreement”), among Vail Holdco Sub LLC, the Borrower, each of the guarantors party thereto (the “Guarantors”), Goldman Sachs Bank USA, as administrative agent and collateral agent (the “Administrative Agent”), the swing line lender, a letter of credit issuer and as the Additional Incremental B-7 Euro Term Lender (as defined in the Credit Agreement Amendment), and the other lenders party thereto (the “Lenders”).
Pursuant to the Credit Agreement Amendment, the Borrower obtained a €374,208,296.62 tranche of senior secured Euro-denominated term loans (the “Incremental B-7 Euro Term Loans”). The Incremental B-7 Euro Term Loans bear interest at a rate equal to the floating EURIBO Rate plus a spread of 2.00% per annum. The Incremental B-7 Euro Term Loans replaced and refinanced certain of the Borrower’s existing senior secured euro term loans, which had an interest rate equal to the floating EURIBO Rate plus a spread of 2.50% per annum, that were scheduled to mature on October 9, 2032.
The final stated maturity of the Incremental B-7 Euro Term Loans is October 9, 2032. In addition, the Credit Agreement Amendment provides that in the event the Borrower prepays, replaces or refinances (including any such prepayment, replacement or refinancing effected through an amendment to the Credit Agreement Amendment) all or a portion of Incremental B-7 Euro Term Loans at any time prior to the six month anniversary of the Effective Date with any indebtedness under credit facilities in the form of similar term B loans that are broadly marketed or syndicated to banks and other institutional investors incurred primarily for the purpose of repaying, replacing or refinancing such Incremental B-7 Euro Term Loans at an effective yield that is less than the effective yield of such Incremental B-7 Euro Term Loans (excluding any indebtedness incurred in connection with a change of control or certain transformative acquisitions), a prepayment premium equal to 1.00% of the principal amount of such Incremental B-7 Euro Term Loans being prepaid or 1.00% of the principal amount of the Incremental B-7 Euro Term Loans outstanding immediately prior to such amendment will be imposed on the Borrower.
The Incremental B-7 Euro Term Loans are guaranteed by the same subsidiaries of the Company that guarantee the existing credit facilities under the Credit Agreement. The Incremental B-7 Euro Term Loans and the guarantees thereof are secured by the same collateral of the Borrower and the Guarantors that secures the Borrower’s obligations under the Credit Agreement on a pari passu basis.
In addition, the Administrative Agent has provided the Borrower and its affiliates with financial advisory, commercial banking and investment banking services for which they received customary fees and expenses.
The foregoing is a summary of the material terms of the Credit Agreement Amendment, does not purport to be complete, and is qualified in its entirety by reference to the Credit Agreement Amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation under an Off-Balance Sheet Arrangement of Registrant.
The information set forth in Item 1.01 is incorporated into this Item 2.03 by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||
10.1 | Amendment No. 15 to Credit Agreement, dated as of July 14, 2026 (the “Credit Agreement Amendment”), which amended that certain Credit Agreement, originally dated as of November 21, 2017, among Vail Holdco Sub LLC, Avantor Funding, Inc., each of the guarantors, Goldman Sachs Bank USA, as administrative agent and collateral agent, the swing line lender, a letter of credit issuer and the Additional Incremental B-7 Euro Term Lender (as defined in the Credit Agreement Amendment) and the other lenders party thereto. | |||||||
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Avantor, Inc. | |||||||||||
| Date: July 17, 2026 | By: | /s/ Claudius Sokenu | |||||||||
| Name: | Claudius Sokenu | ||||||||||
| Title: | Executive Vice President, Chief Legal and Compliance Officer and Secretary (Duly Authorized Officer) | ||||||||||