Parexel International repays $100 million 3.11% senior notes due 2020

By Susanna Moon

Chicago, Oct. 2 – Parexel International Corp. prepaid its $100 million principal amount of outstanding 3.11% senior notes due 2020 on Sept. 29 in connection with a merger.

The prepayment price was $103,336,059 under a prepayment notice issued Sept. 27, according to an 8-K filing with the Securities and Exchange Commission.

On Aug. 24, West Street Merger Sub, Inc., a wholly owned subsidiary of West Street Intermediate Holdings Corp., the successor entity of West Street Parent, LLC, issued $770 million principal amount of 6 3/8% senior notes due 2025.

The new issue proceeds were then deposited into an escrow account and released on Sept. 29 to be used to help finance the merger.

After the merger, Merger Sub merged into the company with the company surviving the merger.

Parexel is a Waltham, Mass.-based biopharmaceutical services company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.