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24.06.2019

SYNLAB successfully closed a EUR 920 million term loan transaction

SYNLAB Bondco Plc ("SYNLAB"), the leading provider of medical diagnostic services in Europe, today announced that it successfully closed a term loan transaction amounting to EUR 920 million, maturing in July 2026.

SYNLAB’s new loan is priced at EURIBOR + 3.75%, demonstrating strong support from investors and banks for SYNLAB’s strategy and business. An oversubscribed book allowed SYNLAB to tighten its original guidance on the original issue discount (“OID”) level, which was finally priced at 99.75%.

The proceeds of the term loan will be used to repay the existing EUR 900 million of Senior Secured Notes maturing in 2022, currently bearing interest at 6.25% per annum. With this transaction, the SYNLAB Group is decreasing the cost as well as increasing the average maturity of its debt structure.

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