CLEVELAND, Jan. 20, 2021 (GLOBE NEWSWIRE) – Sotera Health Company (Nasdaq: SHC), a leading global provider of critical end-to-end sterilization solutions and laboratory testing and consulting services for the healthcare industry. Health, today announced that it has closed on an amendment reassessing its senior term loan facility. The facility’s LIBOR interest rate spread was reduced from 450 basis points to 275 basis points, and the facility’s LIBOR floor was reduced from 100 basis points to 50 basis points. The changes result in an effective reduction in current interest rates of 2.25%.

“We are satisfied with the results of this repricing transaction, which we believe reflects the recently announced measures the company has taken to reduce leverage and improve the liquidity position of the company, combined with our continued strong operational performance.” said Scott J. Leffler, CFO of Sotera Health. “At current LIBOR and debt levels, we expect the improved pricing will translate into approximately $ 40 million in annual cash interest savings and provide us with additional flexibility for investing in strategic priorities. keys, such as growth initiatives and continued deleveraging. “

Sotera Health expects the interest savings to be partially offset by the cash and non-cash charges associated with the pricing change.

Forward-looking statements:

Statements in this press release concerning the Company that are not historical facts are “forward-looking statements” that involve risks and uncertainties, including statements about the expected impact of the revaluation of our debt and charges. related issues, our financial condition and our operating performance. The inclusion of these forward-looking statements should not be taken as a representation by us that any future plans, estimates or expectations that we envisage will be realized. These forward-looking statements are subject to various risks, uncertainties and assumptions regarding our operations, financial results, financial condition, businesses, prospects, growth strategy and liquidity. For more information on these risks and uncertainties, please refer to our documents filed with the SEC. The forward-looking statements made in this press release speak only as of the date of this press release, and the Company assumes no obligation to update the information contained in this press release to reflect events or circumstances occurring subsequently, except if the law requires it.

About Sotera Santé:

The name Sotera Health was inspired by Soteria, the Greek goddess of security, and reflects the company’s unwavering commitment to its mission of safeguarding global health.^®. Health Sotera The company is one of the world’s leading providers of sterilization and laboratory testing services and critical consulting for the healthcare industry. With a combined tenure in our business of nearly 200 years and our industry-recognized scientific and technological expertise, we help ensure the safety of millions of patients and healthcare professionals around the world every year. At our 63 facilities around the world, we have nearly 2,900 employees dedicated to safety and quality. We are a trusted partner of more than 5,800 customers in more than 50 countries, including more than 40 of the top 50 medical device companies and 8 of the world’s top 10 pharmaceutical companies.

Sotera Health Goes To Market Through Its Top Three Companies – Sterigenism^®, Nordion^® and Nelson Laboratories^®. Sterigenics is one of the world’s leading providers of outsourced terminal sterilization and irradiation services for the medical device, pharmaceutical, food safety and advanced application markets. Nordion is the world’s leading supplier of Co-60 and gamma irradiators, which are key components of the gamma sterilization process. Nelson Labs is a global leader in outsourced microbiological and analytical testing and consulting services for the medical device and pharmaceutical industries. Learn more about Health Sotera To soterahealth.com.

CONTACTS:

Kristin gibbs
Head of Marketing, Sotera Santé
[email protected]

Source: Sotera Health Society