KKR PRA enters into, borrows $275 million under margin loan agreement

By Tali Rackner

Norfolk, Va., March 6 – KKR PRA Investors LP entered into a margin loan agreement and pledge and security agreement of even date on March 3, according to an 8-K filing with the Securities and Exchange Commission.

Also on Tuesday, the company borrowed $275 million under the margin loan agreement.

Under the pledge and security agreement, KKR pledged about 40 million shares of common stock of PRA Health Sciences, Inc. to secure borrowings under the margin loan agreement.

The pledged shares represented roughly 66.7% of the PRA Health’s issued and outstanding common stock as of March 3.

KKR PRA is an affiliate of the investment funds associated with or designated by Kohlberg Kravis Roberts & Co. LP that are the current majority owners of PRA Health Sciences.

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