Medpace enters into new $150 million credit agreement

By Wendy Van Sickle

Columbus, Ohio, June 21 – Medpace LP entered into a credit agreement on June 16 with Credit Suisse AG, Cayman Islands Branch as agent and Morgan Stanley Bank, NA as a lender and borrowed $150 million under the agreement on Wednesday, according to an 8-K filing with the Securities and Exchange agreement.

Medpace LP entered into a pledge agreement with Credit Suisse Securities (USA) LLC and Morgan Stanley Bank as secured parties under which the borrower pledged all of its shares of Medpace Holdings, Inc.’s common stock to Credit Suisse and Morgan Stanley.

When it drew down the $150 million, Medpace LP pledged 22,999,997 shares of common stock, representing about 56.4% of the company’s outstanding common stock, as of the funding date.

All of the pledged shares were contributed to the borrower from Fifth Cinven Fund (No. 1) LP, Fifth Cinven Fund (No. 2) LP, Fifth Cinven Fund (No. 3) LP, Fifth Cinven Fund (No. 4) LP, Fifth Cinven Fund (No. 5) LP, Fifth Cinven Fund (No. 6) LP, Fifth Cinven Fund FCP-SIF and Fifth Cinven Fund Co-Investment Partnership, which collectively own all of the equity interest in the borrower.

In the event of a default under the credit agreement by the borrower, the secured parties may foreclose upon any and all shares of common stock pledged to them and may seek recourse against the borrower.

Medpace is a Cincinnati-based clinical research organization and drug and medical device development service.

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