Parexel to launch $550 million add-on term loan B on Thursday

By Sara Rosenberg

New York, Jan. 10 – Parexel is scheduled to hold a lender call at 10 a.m. ET on Thursday to launch a fungible $550 million add-on term loan B, according to a market source.

Goldman Sachs Bank USA, Barclays, UBS Investment Bank, DNB, Jefferies LLC, BofA Securities Inc., BNP Paribas Securities Corp., RBC Capital Markets, ING, PNC and Mizuho are the arrangers on the deal.

Proceeds will be used to refinance a portion of the company’s second-lien term loan due November 2029.

EQT and Goldman Sachs Asset Management are the sponsors.

Parexel is a Durham, N.C.-based biopharmaceutical services company that provides clinical research and logistics, medical communications, consulting, commercialization, and advanced technology products and services.

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