August 25, 2016 1:10 AM ET

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Company Overview of VWR Funding, Inc.

Company Overview

VWR Funding, Inc. provides laboratory products, services, and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers portfolio of branded and private label laboratory products, such as chemicals, reagents, consumables, durable products, and scientific equipment and instruments. It also provides a range of value-added services under the VWRCATALYST brand name; scientific research support services, such as DNA extraction, bioreactor servicing, and compound management; and custom manufacturing solutions, including buffers, reagents, and other chemicals used in biopharmaceutical and industrial applications, and production processes. In addition, the ...

100 Matsonford Road

PO Box 6660

Radnor, PA 19087

United States

Founded in 1852

Phone:

610-386-1700

Key Executives for VWR Funding, Inc.

Chief Executive Officer, President, Director and Chairman of Finance Committee
Age: 58
Chief Financial Officer and Senior Vice President
Age: 62
Senior Vice President and President of Americas Lab & Distribution Services
Age: 61
Senior Vice President and President of EMEA-APAC Lab & Distribution Services
Age: 58
Principal Accounting Officer, Vice President and Corporate Controller
Age: 57
Compensation as of Fiscal Year 2016.

VWR Funding, Inc. Key Developments

VWR Funding, Inc. Enters into a Credit Agreement

On September 28, 2015, VWR Corporation's wholly owned subsidiary, VWR Funding, Inc. entered into a credit agreement governing its new senior secured credit facility with Citibank, N.A., as administrative agent and collateral agent for the lenders, Citibank, N.A., Barclays Bank PLC, Goldman Sachs Bank USA, Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and PNC Capital Markets LLC, as joint lead arrangers, Barclays Bank PLC and Goldman Sachs Bank USA, as co-syndication agents, Mizuho Bank, Wells Fargo Bank, National Association and BBVA Compass, as co-documentation agents, Sumitomo Mitsui Banking Corporation, as senior managing agent, and TD Bank, N.A., as managing agent, and the company and certain of its subsidiaries entered into a related Guarantee and Collateral Agreement with Citibank, N.A., as collateral agent. The new credit facility consists of (i) a U.S. dollar denominated term loan A facility providing for a loan in an aggregate principal amount of $910.0 million, (ii) a Euro denominated term loan B facility providing for a loan in an aggregate principal amount of 460.0 million and (iii) a multi-currency revolving credit facility providing for up to $250.0 million in multi-currency revolving loans to the borrowers (including letters of credit). Undrawn amounts under the revolving credit facility are available on a revolving credit basis for working capital and general corporate purposes of the borrowers, including any foreign subsidiary borrowers, that are from time-to-time party to the Credit Agreement and their respective subsidiaries. The Credit Agreement will permit one or more of VWR Funding's foreign subsidiaries to become foreign borrowers under the revolving credit facility upon the satisfaction of certain conditions. The revolving credit facility and the Term A Loans will mature on September 28, 2020. The Term B Loans will mature on January 15, 2022. The principal amount of the Term A Loans will be amortized in annual installments equal to (i) 5% of their original principal amount during each of 2016 and 2017, (ii) 7.5% of their original principal amount during 2018 and (iii) 10% of their original principal amount annually thereafter with the remainder due at maturity. The principal amount of the Term B Loans will be amortized in annual installments equal to 1% of their original principal amount, with the remainder due at maturity. Subject to certain exceptions, the new credit facility is subject to mandatory prepayment and reduction in an amount equal to: (i) the net cash proceeds of (1) certain asset sales by VWR Funding and its restricted subsidiaries and (2) certain insurance recovery and condemnation events; (ii) the net cash proceeds from the incurrence of certain additional indebtedness by VWR Funding and its restricted subsidiaries; and (iii) beginning with the fiscal year 2016, 50% of excess operating cash flow of VWR Funding and its domestic subsidiaries, together with dividends and repayments of intercompany debt from foreign subsidiaries, net of operating cash used (or to be used) to finance permitted acquisitions and other investments for which a binding agreement (or binding commitment) then exists, for capital expenditures, for certain restricted payments and for any voluntary and certain mandatory principal payments for any fiscal year, with that percentage being reduced to 25% or 0% if certain net leverage ratios are met.

VWR Funding, Inc Prices its 4.625% Senior Notes Due 2022

VWR Corporation announced that its owned subsidiary, VWR Funding, Inc., priced its private offering of EUR 503.8 million in aggregate principal amount of its 4.625% senior notes due 2022. The company anticipates that the closing of the offering will take place on or about March 25, 2015, subject to customary closing conditions. The Notes will be guaranteed, jointly and severally, by certain of the Issuer's existing and future domestic subsidiaries. The Notes and the related guarantees will be senior unsecured obligations of the Issuer and the guarantors. The Issuer intends to use the net proceeds from the offering to repay current outstanding borrowings under its multi-currency revolving loan facility and accounts receivable facility and a portion of its U.S. dollar-denominated term loans.

VWR Funding, Inc. Announces Private Offering of EUR 500 Million Senior Notes Due 2022

VWR Corporation announced that its VWR Funding, Inc. intends to offer, subject to market and other customary conditions, EUR 500 million in aggregate principal amount of senior notes due 2022 in a private offering that is exempt from registration under the Securities Act of 1933, as amended. The Notes will be guaranteed, jointly and severally, by certain of the Issuer's existing and future domestic subsidiaries. The Notes and the related guarantees will be senior unsecured obligations of the Issuer and the guarantors. The Issuer intends to use the net proceeds from the offering to repay current outstanding borrowings under its multi-currency revolving loan facility and accounts receivable facility and a portion of its U.S. dollar-denominated term loans. Management believes the offering will provide VWR with added flexibility to refinance its 7.25% senior notes and its senior secured credit facility, which both mature in 2017, and with added liquidity to support its growth initiatives. The Notes and the related guarantees will be offered only to 'qualified institutional buyers' in reliance on the exemption from registration pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities or blue sky laws and foreign securities laws.

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