eResearchTechnology to launch $1.155 billion term loan B on Tuesday

By Sara Rosenberg

New York, Nov. 1 – eResearchTechnology Inc. is scheduled to hold a bank meeting at 1 p.m. ET in New York on Tuesday to launch a $1.155 billion first-lien term loan B, according to a market source.

The company is also getting a $395 million privately placed second-lien term loan, the source said.

Goldman Sachs Bank USA and Jefferies LLC are the leads on the deal.

Proceeds will be used for a recapitalization concurrent with an investment by Astorg to acquire a significant stake in the company alongside existing majority owner Nordic Capital.

eResearchTechnology is a Philadelphia-based provider of software-enabled clinical research solutions to pharmaceutical, biopharmaceutical and contract research organizations.

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