Maravai LifeSciences Refinances Credit Agreement, Extends Debt Maturity

By Philip Seaworth • Wednesday, June 03 10:57 • Permanent Link

Maravai LifeSciences said it refinanced its credit agreement and pushed its debt maturity out to June 2032.

The company replaced its prior borrowing structure with a new package that includes a $150 million term loan and a $30 million revolving credit facility. Borrowings under the new term loan, along with about $98.5 million of cash on hand, were used to pay off debt under the previous credit agreement, which had been due in October 2027.

The refinancing cuts Maravai’s long-term debt to $150.0 million from about $242.9 million in aggregate outstanding principal, a reduction of roughly $92.9 million, or about 38%. At the same time, the company preserved access to an additional $30 million of revolving credit capacity.

Chief Financial Officer Raj Asarpota said the transaction materially reduces debt, extends maturity and creates a more flexible credit structure while keeping capital available for strategic priorities and growth initiatives. The market has reacted to these announcements by moving the company's shares 1.35% to a price of $4.895. If you want to know more, read the company's complete 8-K report here.

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