Syneos Health, Star Parent announce proposed $1.7B offering of senior notes

Star Parent and Syneos Health announced that, subject to market conditions and other factors, the Issuer intends to offer $1,700,000,000 aggregate principal amount of Senior Secured Notes due 2030. The Issuer intends to use the proceeds from the offering together with other financing sources to fund the previously announced acquisition of Syneos Health by the Issuer and certain of its affiliated entities and related refinancings. The Purchasing Entities were newly-formed entities established by a consortium of private investment funds led by Elliott Investment Management L.P. and its affiliates, Patient Square Capital, LP and its affiliates and Veritas Capital Fund Management, L.L.C. and its affiliates. If the sale of the Notes is not completed concurrently with the closing of the Acquisition, then the proceeds from the sale of the Notes will be placed into escrow until the closing of the Acquisition.