PAREXEL International Corporation (NASDAQ:PRXL) Files An 8-K Entry into a Material Definitive Agreement

On December 23, 2016, PAREXEL International Corporation (PAREXEL
or the Company) entered into short term unsecured revolving
credit facility with HSBC Bank USA, National Association (HSBC)
providing for loans in the aggregate principal amount of up to
$100,000,000 (the Facility) at any time outstanding.

All outstanding loans under the Facility mature on June 22, 2017
(the Maturity Date) unless earlier payment is required under the
terms of the Facility. In addition, PAREXELs borrowing capacity
under the Facility will be reduced by the amount of any increase
in its existing revolving credit facility under the 2016 Bank of
America Facility (defined below). Borrowings made under the
Facility bear interest, at PAREXELs determination, at a base rate
plus a margin (such margin not to exceed a per annum rate of
1.000%) based on a consolidated net leverage ratio for the prior
four fiscal quarters (the Leverage Ratio), or at a LIBOR rate
plus a margin (such margin not to exceed a per annum rate of
2.000%) based on the Leverage Ratio. Loans outstanding under the
Facility may be prepaid at any time in whole or in part without
premium or penalty, other than customary breakage costs, if any,
subject to the terms and conditions of the Facility.

The obligations of PAREXEL under the Facility may be accelerated
upon the occurrence of an event of default under the Facility,
which includes customary events of default, including payment
defaults, the inaccuracy of representations or warranties and
events of default under the 2016 Bank of America Facility
(defined below), which also includes payment defaults and other
customary events of default.

PAREXEL has a banking relationship with HSBC. PAREXEL, certain
subsidiaries of PAREXEL, Bank of America, N.A. as administrative
agent, and the other lenders party thereto entered into a Third
Amended and Restated Credit Agreement for a credit facility on
March 11, 2016 (the 2016 Bank of America Facility), which remains
in effect in accordance with its terms. HSBC is a lender under
the 2016 Bank of America Facility.

The foregoing description of the Facilities does not purport to
be complete and is qualified in its entirety by reference to the
full text of the Facility, a copy of which is attached as Exhibit
10.1 to this Current Report on Form 8-K and incorporated herein.

Item 2.03. Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.

The information set forth under Item 1.01 above is incorporated
by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.