LONDON: SYNLAB Bondco Plc announced that it is preparing the launch of a debt refinancing transaction aiming to raise up to an aggregate principal amount of €385 million through a new term loan facility, maturing in 2027.
The completion of the term loan is contingent upon the conclusion and execution of the required documents by the involved banks and other parties.
SYNLAB intends to use the proceeds of the term loan to refinance SYNLAB €375 million senior notes maturing in 2023, currently bearing interest at 8.25% per annum. SYNLAB will thus reduce the cost and extend average maturity of its debt structure.
SYNLAB Group is an international medical diagnostics provider with laboratory services for human and veterinary medicine as well as environmental analysis. The company emerged from the combination of the two medical diagnostics providers Labco and synlab.