Report
Pierre François Merveille

Synlab : Focus Emission

PE fund Cinven intends to raise a new € 900m 7-year term loan B and € 550m of new 7NC3 secured notes at the level of Ephios Subco 3 to fund in part its takeover bid on Synlab, the European leader in lab testing services with LTM revenues of € 2.65bn and LTM adj. EBITDA of €419m. The PF leverage will stand at 4.8x (5.5x on a reported basis) as par company definition in Q3 2023 and should mildly decrease in the near term owing to limited M&A activity and management’s focus on impro...
Underlying
SYNLAB AG

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Pierre François Merveille

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