QuintilesIMS Announces Pricing of Senior Notes
February 23 2017 - 06:16PM
Business Wire
Quintiles IMS Holdings, Inc. (“QuintilesIMS”) (NYSE: Q) today
announced the pricing of the offering of €1.425 billion in gross
proceeds of senior notes to be issued by its wholly owned
subsidiary, Quintiles IMS Incorporated (the “Issuer”). The offering
was upsized from the previously announced €850 million aggregate
principal amount. As a result of the upsize, while the Issuer still
intends to refinance all of the outstanding term B loans under its
senior secured credit facility with an extended and repriced term B
loan facility as previously announced, it has elected to no longer
upsize the term B loan facility. The net proceeds from the notes
offering, together with proceeds from the previously announced
proposed refinancing, will be used to refinance certain of the
Issuer’s existing indebtedness, to pay fees and expenses related to
the notes offering and the refinancing and for other general
corporate purposes, which may include share repurchases, including
the repurchase of shares from affiliates and significant
shareholders, and future acquisitions.
The notes will bear interest at a rate of 3.25% and will pay
interest semi-annually in arrears on March 15th and September 15th
of each year beginning on September 15, 2017. The notes will mature
on March 15, 2025. The issuance of the senior notes is expected to
occur on or about February 28, 2017, subject to customary closing
conditions.
Certain statements in this press release are forward-looking
statements. These statements involve a number of risks,
uncertainties and other factors including the failure to consummate
the notes offering and the refinancing and potential changes in
market conditions that could cause actual results to differ
materially.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the notes. The notes have not been,
and will not be, registered under the Securities Act of 1933 and
may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements of
the Securities Act of 1933. The notes are being offered only to
qualified institutional buyers in the United States in reliance on
Rule 144A under the Securities Act of 1933 and outside the United
States only to non-U.S. investors pursuant to Regulation S.
About QuintilesIMS
QuintilesIMS (NYSE: Q) is a leading integrated information and
technology-enabled healthcare service provider worldwide, dedicated
to helping its clients improve their clinical, scientific and
commercial results. Formed through the merger of Quintiles
Transnational and IMS Health, QuintilesIMS’s approximately 50,000
employees conduct operations in more than 100 countries. Companies
seeking to improve real-world patient outcomes through treatment
innovations, care provision and access can leverage QuintilesIMS’s
broad range of healthcare information, technology and service
solutions to drive new insights and approaches. QuintilesIMS
provides solutions that span clinical to commercial, bringing
customers a unique opportunity to realize the full potential of
innovations and advanced healthcare outcomes.
As a global leader in protecting individual patient privacy,
QuintilesIMS uses healthcare data to deliver critical, real-world
disease and treatment insights. Through a wide variety of
privacy-enhancing technologies and safeguards, QuintilesIMS
protects individual privacy while managing information to drive
healthcare forward. These insights and execution capabilities help
biotech, medical device and pharmaceutical companies, medical
researchers, government agencies, payers and other healthcare
stakeholders in the development and approval of new therapies, and
to identify unmet treatment needs and understand the safety,
effectiveness and value of pharmaceutical products in improving
overall health outcomes.
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Quintiles IMS Holdings, Inc.Investor Relations:Andrew Markwick,
973-257-7144andrew.markwick@quintilesims.comorMedia Relations:Tor
Constantino, 484-567-6732tor.constantino@quintilesims.comorPhil
Bridges, 919-998-1653mobile:
919-457-6347phil.bridges@quintilesims.com
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