Quintiles/Pharma Services $450 million 10-year notes talked at 9½%, pricing Friday

By Paul A. Harris

St. Louis, Sept. 10 - Pharma Services' $450 million of 10-year non-call-five senior subordinated notes (B3/B) to be used to help fund the acquisition of Quintiles Transnational Corp. are talked at a yield in the 9½% area, according to an informed source.

The deal is expected to price on Friday.

Citigroup is bookrunner on the Rule 144A (with registration rights) offering.

Proceeds will be used to fund the LBO by One Equity Partners, LLC and repay debt.

The Research Triangle Park, N.C.-based company is a service provider to healthcare industry.

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