Sotera Health Company and Sotera Health Holdings, LLC announced that it has successfully closed a new senior secured Term Loan B facility in an aggregate principal amount of $1.51 billion as well as an issuance of senior secured notes in an aggregate principal amount of $750.0 million, both of which mature in 2031. The Company used the net proceeds from the Financings, along with cash on hand, to refinance its existing $1.76 billion Term Loan B and $496.3 million Term Loan B facilities. The TLB was issued in connection with an amendment to the Company?s existing First Lien Credit Agreement and will bear interest at a variable rate per annum plus an applicable margin, at the Company's option, of either 3.25% for SOFR-based loans or 2.25% for alternate base rate loans (in each case, subject to a 0% floor), in any case payable in arrears.

The TLB is prepayable without premium or penalty at any time six months after the closing date, and includes a 1.00% premium for certain repricing transactions that occur in the first six months after the closing date. The TLB is required to be paid down at 1.00% of the aggregate principal amount ($15.1 million) per year, with the balance due in 2031. The covenants applicable to the TLB are substantially the same as those in the Company?s existing First Lien Credit Agreement.

The Notes will bear interest at a fixed rate of 7.375% per annum payable semi-annually in arrears. The Notes will be guaranteed by the Company and each of the other entities that guarantees the existing First Lien Credit Agreement. The Notes and the related guarantees will be secured on a first lien basis by substantially all assets of the issuer and the guarantors (other than any excluded assets and subject to certain other exceptions).