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News Jul 27, 2020

SYNLAB's Bond to TLB Exchange Offer and Extension of Term Loan B

Shearman & Sterling advised Goldman Sachs International, Morgan Stanley and Deutsche Bank as mandated lead arrangers in connection with SYNLAB's exchange offer of its Floating Rate Notes due 2022 into a new tranche of its Term Loan B due 2024 and in relation to the extension of SYNLAB's existing Term Loan B due July 2022. This was the first ever non-distressed high yield notes for a Term Loan B exchange offer. The Shearman & Sterling team also advised Natixis in relation to the extension of SYNLAB's Revolving Credit Facility.

SYNLAB is a Cinven-backed pre-eminent clinical laboratory services company in Europe. It operates across 35 countries on three continents and undertakes more than 500 million clinical tests for more than 50 million patients annually.

The Shearman & Sterling team below also included associate Tom Capper.

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