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Quintiles eyes new $800 million unsecured debt in planned refinancing
By Paul A. Harris and Sara Rosenberg
Portland, Ore., April 29 – Quintiles Transnational Holdings Inc. announced in a Wednesday press release that its wholly owned subsidiary, Quintiles Transnational Corp., plans to issue $800 million of new unsecured debt as part of a proposed refinancing effort.
The refinancing will also include $1.75 billion of new senior secured credit facilities being managed by J.P. Morgan Securities LLC, Barclays, Morgan Stanley Senior Funding Inc., Bank of America Merrill Lynch, MUFG and PNC Bank and set to launch on a Thursday lender call.
Proceeds will be used to refinance existing credit facilities, as well as for general corporate purposes, including corporate transactions and equity repurchases.
The prospective issuer is a Research Triangle Park, N.C.-based provider of biopharmaceutical development and commercial outsourcing services.
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