MORRISVILLE, N.C., Nov. 18, 2020 (GLOBE NEWSWIRE) -- Syneos Health, Inc. (Nasdaq: SYNH), the only fully integrated biopharmaceutical solutions organization combining a CRO (Contract Research Organization) and a CCO today announced the upsizing and pricing of an offering of $600.0 million aggregate principal amount of 3.625% senior notes due 2029, an upsize of $100.0 million over the amount previously announced. The Notes were priced at par value and will bear an interest rate of 3.625% per annum. The Notes are being offered in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended. The Notes will be guaranteed, jointly and severally, on a senior unsecured basis, by certain of the Company’s subsidiaries. Syneos Health expects to close the offering of the Notes on November 24, 2020, subject to the satisfaction of customary closing conditions.
Syneos Health intends to use the net proceeds of this offering for general corporate purposes, including the funding of acquisitions, and for repayment of indebtedness.
The Company also announced that it intends to enter into an amendment to the credit agreement governing its existing senior secured credit facilities pursuant to which, among other things, the Company expects to extend the maturity date thereof to August 2024 (the “Amendment”). The closing of the offering is not conditioned upon the effectiveness of the Amendment.
About Syneos Health
Syneos Health® (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization. The Company, including a Contract Research Organization (CRO) and Contract Commercial Organization (CCO), is purpose-built to accelerate customer performance to address modern market realities. We bring together approximately 24,000 clinical and commercial minds with the ability to support customers in more than 110 countries. Together we share insights, use the latest technologies and apply advanced business practices to speed our customers’ delivery of important therapies to patients.
