Synarc-BioCore moves $365 million credit facility launch to Tuesday

By Sara Rosenberg

New York, Feb. 12 - Synarc-BioCore Holdings LLC pushed off the bank meeting for its $365 million credit facility to 3 p.m. ET in New York on Tuesday from 10 a.m. ET in New York on Thursday because of an expected storm, according to a market source.

Credit Suisse Securities (USA) LLC, Jefferies Finance LLC and KeyBanc Capital Markets are the leads on the deal.

The facility consists of a $40 million revolver, a $225 million seven-year first-lien covenant-light term loan and a $100 million eight-year second-lien covenant-light term loan.

Included in the first-lien term loan is 101 soft call protection for six months, and the second-lien term loan has call protection of 102 in year one and 101 in year two.

Proceeds will be used to help fund the merger of CCBR-Synarc, a Newark, Calif.-based provider of clinical services to pharmaceutical and biotechnology companies, and BioClinica Inc., a Newton, Pa.-based provider of integrated, technology-enhanced clinical trial management services.

Closing is expected this quarter.

Synarc-BioCore is a clinical imaging and patient recruitment company for pharmaceutical and CRO clinical trials.

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