December 13, 2019

Milbank Represents Jefferies and Lead Arrangers in $2.1B Refinancing for Sotera Health


Milbank LLP represented Jefferies, JPMorgan, Barclays, RBC Capital Markets, ING, and BNP Paribas, as Joint Lead Arrangers and Joint Bookrunners, and Jefferies Finance LLC, as First Lien Administrative Agent and First Lien Collateral Agent, in connection with a $2.12 billion first lien senior secured term loan facility and a $190 million first lien multi-currency senior secured revolving credit facility to Sotera Health Holdings, LLC. Proceeds of the debt financing were used to redeem the company’s and its parent’s outstanding notes and refinance the outstanding indebtedness under the company’s existing revolving and term loan facilities.

Sotera Health brings together Sterigenics, Nelson Labs and Nordion, as a leading global provider of sterilization and lab services for the medical device industry and a leading supplier of medical isotopes. With over 2,800 employees, the company serves more than 6,000 customers and operates over 60 facilities in 13 countries.

The Milbank Global Leveraged Finance team was led by partner Michael Bellucci and included associates Ben Eisenstein and Imran Yassin.