Syneos Health cuts pricing on term A loans via Credit Suisse by 25 bps

By Tali Rackner

Minneapolis, May 7 – Syneos Health, Inc. amended interest on its credit agreement dated Aug. 1, 2017 with Credit Suisse AG, Cayman Islands branch as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The Friday amendment reduces pricing on the term A loans by 25 basis points to Libor plus 125 bps to 150 bps, depending on first-lien leverage.

As previously reported, the company also repriced its term B loans to Libor plus 175 bps to 200 bps, based on secured leverage.

In connection with the amendment, Syneos paid fees and expenses to Credit Suisse and ING Capital LLC as lead arrangers.

Syneos, the company formed through the combination of INC Research and inVentiv Health, is a Raleigh, N.C.-based biopharmaceutical solutions provider.

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