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Synlab finalizes €920 million term loan B at Euribor plus 375 bps
By Sara Rosenberg
New York, June 21 – Synlab set pricing on its €920 million seven-year term loan B at Euribor plus 375 basis points, the high end of the Euribor plus 350 bps to 375 bps talk, according to a market source.
Also, the original issue discount on the term loan was revised to 99.75 from 99.5, the source said.
The term loan still has a 0% floor.
Goldman Sachs is the global coordinator and a physical bookrunner with Barclays, HSBC and Morgan Stanley.
Recommitments were scheduled to be due a 11 a.m. ET on Friday, the source added.
Proceeds will be used to refinance existing senior secured fixed-rate notes and pay associated fees and expenses.
Synlab is a provider of clinical laboratory and medical diagnostic services.
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