QuintilesIMS Announces Offering of Senior Notes, Redemption of Existing Euro Senior Notes and Proposed Amendment to Senior Secured Credit Facility

Sep 11, 2017

DANBURY, Conn. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)-- Quintiles IMS Holdings, Inc. (“QuintilesIMS”) (NYSE: Q) today announced that its wholly owned subsidiary, Quintiles IMS Incorporated (the “Issuer”), intends to raise €420 million in gross proceeds through an offering of senior notes due 2025. QuintilesIMS also announced that the Issuer delivered a conditional notice of redemption with respect to its outstanding 4.125% euro-denominated senior notes due 2023.

QuintilesIMS today also announced that the Issuer intends to pursue an amendment to its senior secured credit facility (the “Amendment”). The terms of the Amendment are expected to provide for an incremental term loan B of up to $750 million and to increase the Issuer’s restricted payment capacity, among other things.

The net proceeds from the notes offering, together with the proceeds from the Amendment, will be used to refinance certain indebtedness of the Issuer, including the redemption of the 4.125% notes, to pay down the Issuer’s revolving credit facility, to pay fees and expenses related to the notes offering and the Amendment and for other general corporate purposes, which may include share repurchases and acquisitions. The consummation of the notes offering and the Amendment are each subject to market and other 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 Amendment 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 to be offered 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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