Item 1.01. Entry into a material definitive agreement.
On March 27, 2020, certain subsidiaries of Avantor, Inc. (the "Company") entered
into a $300 million accounts receivable securitization facility (the "A/R
Facility") to provide additional liquidity and funding for the ongoing business
needs of the Company and its subsidiaries. The new A/R Facility replaces the
Company's existing $250 million accounts receivable facility, which was set to
expire on November 20, 2020.
The documentation for the A/R Facility includes (i) a Receivables Purchase
Agreement (the "Receivables Purchase Agreement") entered into by and among VWR
International, LLC, a Delaware limited liability company and wholly-owned
subsidiary of the Company ("VWR"), as servicer, Avantor Receivables Funding,
LLC, a Delaware limited liability company and a bankruptcy-remote special
purpose entity that is a wholly-owned subsidiary of VWR ("ARF"), certain
committed purchasers, conduit purchasers and LC participants that are parties
thereto from time to time and PNC Bank, National Association, as Administrator
and LC Bank, (collectively, the "Purchasers") and (ii) a Purchase and Sale
Agreement (the "Purchase and Sale Agreement") by and among certain wholly-owned
subsidiaries of the Company, as originators (the "Originators") and ARF
(collectively, the "Agreements").
Pursuant to the Purchase and Sale Agreement, the Originators have sold, and will
continue to sell on an ongoing basis, their accounts receivable, together with
customary related security and interests in the proceeds thereof, to ARF in
exchange for a combination of cash and subordinated notes issued by ARF to the
Originators. Pursuant to the Receivables Purchase Agreement, ARF may, from time
to time, in turn sell undivided interests in such accounts receivable, together
with all related security and interests in the proceeds thereof, to the
Purchasers in exchange for cash proceeds and/or letters of credit. Collections
on the accounts receivable for which an undivided interest is sold to the
Purchasers will be set aside and held in trust to satisfy the obligations of ARF
under the A/R Facility or will be used to purchase additional accounts
receivable from the Originators.
The Originators and ARF provide customary representations and covenants under
the Agreements and includes a consolidated interest expense test if the
Company's available liquidity is less than $125.0 million. Sales of interests to
the Purchasers under the A/R Facility are subject to customary criteria, limits
and reserves. The Receivables Purchase Agreement provides for certain
Termination Events, as defined therein, upon the occurrence of which the
Purchasers may terminate further purchases of undivided interests in the
accounts receivable and impose default fees. ARF pays Base Rate or Alternate
Rate (each as defined in the Receivables Purchase Agreement) with respect to
amounts advanced under the A/R Facility. The calculation of Base Rate and
Alternate Rate will vary based on the funding alternatives and will be
calculated at the applicable rates described in the Receivables Purchase
Agreement. In addition, the A/R Facility also provides for the issuance of
letters of credit.

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The amount of credit exposure of the Purchasers outstanding at any one time
under the Receivables Purchase Agreement is subject to maintaining sufficient
eligible receivables, and is limited to $300 million.
The A/R Facility is for an initial three-year term and may be extended in
accordance with the terms of the Receivables Purchase Agreement.
VWR serves as the servicer of the accounts receivable under the A/R Facility.
Neither VWR nor ARF guarantees collectability of the accounts receivable or the
creditworthiness of obligors thereunder. However, Avantor Funding, Inc., a
wholly-owned subsidiary of the Company, has provided a guaranty of performance
in respect of the obligations of the Originators under the Purchase and Sale
Agreement.
Item 1.02. Termination of a material definitive agreement.
In connection with its entry into the A/R Facility, the Company terminated its
existing accounts receivable facility dated as of November 21, 2017, as
subsequently amended and extended, among VWR Receivables Funding, LLC, VWR, the
various conduit purchasers from time to time party thereto, the various related
committed purchasers from time to time party thereto, the various purchaser
agents from time to time party thereto, the various LC participants from time to
time party thereto and PNC Bank, National Association, as Administrator and LC
Bank.
Section 2 - Financial information
Item 2.03. Creation of a direct financial obligation or an obligation under an
off-balance sheet arrangement of a registrant.
The information in Item 1.01 with respect to the A/R Facility is incorporated
herein by reference.

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Item 9.01. Financial statements and exhibits.
(d) Exhibits
Exhibit No.   Description
  10.1          Receivables Purchase Agreement, dated March 27, 2020, among
              Avantor Receivables Funding, LLC, VWR International, LLC, the
              various conduit purchasers from time to time party thereto, the
              various related committed purchasers from time to time party
              thereto, the various purchaser agents from time to time party
              thereto, the various LC participants from time to time party thereto
              and PNC Bank, National Association, as Administrator and LC Bank
  10.2          Purchase and Sale Agreement, dated March 27, 2020, between the
              various entities listed on Schedule I thereto as Originators and
              Avantor Receivables Funding, LLC



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