Quintiles Transnational Corp. is paying as much 50 percent morefor a $300 million loan than on a similar borrowing in June,burdening the company with increased interest costs to fund itssecond dividend in a year to Bain Capital LLC and TPG Capital.

The biggest provider of testing and drug-trial services topharmaceutical and biotech firms will pay a fixed 7.5 percent onthe five-year credit, according to data compiled by Bloomberg. Itpays a minimum 5 percent on a $2 billion floating-rate, seven-yearterm loan it obtained last year, also used to finance a dividend toits private-equity owners, the data show.

Bain, TPG and other owners are taking advantage of Quintiles'scash flow to collect roughly $1 billion of distributions in littlemore than two years, according to Bloomberg data and reports fromMoody's Investors Service. The new loan, due in 2017, represents$23 million of annual interest costs and will finance most of a$335 million payout, limiting the junk-rated company's ability toobtain upgrades.