Synlab to pay down revolving loan debt, redeem €775 million floaters

By Susanna Moon

Chicago, Nov. 3 – Synlab Bondco plc plans to redeem its €775 million senior secured floating-rate notes and to repay its debt under a revolving credit facility.

Synlab will fund the redemption and paydown using proceeds of €940 million senior secured notes due 2022 to be issued in fixed- and floating-rate tranches under Rule 144A and Regulation S, according to a company announcement.

Proceeds also will be used for general corporate purposes, including financing acquisitions to further the company’s strategy of pursuing growth opportunities.

Synlab Bondco is a debt issuing vehicle based in London and was formerly known as Ephios Bondco plc.

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