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Paul Hastings Advises on Financing KKRs Acquisitions of PRA International and ReSearch Pharmaceutical Services, Inc.

September 25, 2013

New York, NY-- Paul Hastings LLP, a leading global law firm, announced today that the firm advised the debt financing providers in connection with affiliates of Kohlberg Kravis Roberts & Co. L.P.’s acquisitions of PRA International and ReSearch Pharmaceutical Services, Inc., both leading global contract research organizations that provide outsourced clinical development services to the biotechnology and pharmaceutical industries.

Paul Hastings LLP represented UBS Securities LLC, Jefferies Finance LLC, Credit Suisse Securities (USA) LLC, KKR Capital Markets LLC and Citigroup Global Markets Inc. as joint lead arrangers and UBS AG, Stamford Branch as administrative agent in connection with an $825 million senior secured term loan and a $125 million senior secured revolving credit facility.  Paul Hastings LLP also represented Credit Suisse Securities (USA) LLC, Jefferies Finance LLC, UBS Securities LLC, KKR Capital Markets LLC and Citigroup Global Markets Inc. as initial purchasers in connection with the Rule 144A/Reg S offering of $375 million aggregate principal amount of 9.500% Senior Notes Due 2023 by Pinnacle Merger Sub, Inc., which was merged with and into PRA Holdings, Inc. at closing.  The proceeds of the senior secured credit facilities and the senior notes at closing were used to partially finance the acquisitions of PRA International and ReSearch Pharmaceutical Services, Inc. by affiliates of Kohlberg Kravis Roberts & Co. L.P.

Leveraged Finance partner Michael Michetti led the Paul Hastings team, which also included partners Michael BakerRandal Palach and Joel Simon and associates Joseph Fastiggi, Heidi Spalholz, Valerie Silverman, Tahira PrinceFelicia Yen and Mitchell Zuckerman.

Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.