Maravai Lifesciences Cuts Debt by $92.9 Million

By Chris Stiles • Wednesday, June 03 13:05 • Permanent Link

Maravai Lifesciences reduced its long-term debt by about $92.9 million in a refinancing that also pushed its term loan maturity out nearly five years.

The company said it entered into a new credit agreement with a $150 million term loan facility and a $30 million revolving credit facility. Borrowings from the new term loan, along with about $98.5 million of cash on hand, were used to pay down the prior credit agreement, which had been due in October 2027.

After the transaction, Maravai’s aggregate outstanding principal fell from approximately $242.9 million to $150.0 million. The new term loan matures in June 2032, compared with the prior maturity in October 2027, giving the company an additional four years and eight months before that debt comes due.

The refinancing also leaves Maravai with access to an additional $30 million of revolving credit capacity. Today the company's shares have moved 1.35% to a price of $4.895. If you want to know more, read the company's complete 8-K report here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.