Quintiles to price $400 million five-year senior notes Dec. 7 week

By Paul A. Harris

St. Louis, Dec. 1 - Quintiles Transnational Holdings Inc. will host an investor call at 10:30 a.m. ET on Wednesday for its $400 million offering of conditional cash-pay five-year senior notes, according to an informed source.

The deal is expected to price during the Dec. 7 week.

Morgan Stanley & Co. and Citigroup Global Markets Inc. are joint bookrunners for the Rule 144A and Regulation S for life notes.

The notes become callable immediately at 102.50. The call premium decreases to 102 in 2011, to 101 in 2012 and to par in 2013.

Proceeds will be used to fund a $275 million dividend, as well as related payments to certain option holders of $8 million. Proceeds will also be used to provide $97 million of cash to support PharmaBio's future operations and cash out its fractional shareholders, as well as for general and administrative expenses.

The issuer is a Research Triangle Park, N.C.-based pharmaceutical services company.

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