Synlab to price €550 million equivalent senior secured notes

By Abigail W. Adams

Portland, Me., Dec. 1 – Synlab AG parent company Ephios Subco 3 announced its intention to price a €550 million equivalent offering of senior secured notes (B+) as it readied the launch of a €900 million seven-year term loan B, according to a market source.

The term loan will launch on Monday with a lender call scheduled for 5:15 a.m. ET.

Barclays, BNP Paribas, Credit Agricole, Citigroup Global Markets Inc., Mizuho and Natixis are joint bookrunners for the term loan.

Proceeds from the offerings will be used to fund the acquisition of Synlab AG by Cinven for €10 per share and to repay an existing term loan A due 2026.

Synlab is a Munich-based medical diagnostics services provider.

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