eResearch launches $465 million term loan B at Libor plus 450-475 bps

By Sara Rosenberg

New York, April 23 – eResearchTechnology Inc. launched on Wednesday its $465 million term loan B with price talk of Libor plus 450 basis points to 475 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

The company’s $510 million credit facility (B2/B) also includes a $45 million revolver.

Commitments are due on May 1, the source added.

Jefferies Finance LLC and Citizens Capital Markets are the leads on the deal.

Proceeds will be used to fund the acquisition of PHT Corp.

eResearchTechnology, a Genstar Capital portfolio company, is a Philadelphia-based provider of patient-centric endpoint data collection solutions for use in clinical drug development. PHT is a Boston-based collector and reporter of secure real-time patient data from mobile apps.

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