Quintiles-IMS Heath starts roadshow for $1.5 billion equivalent two-part notes offering

By Paul A. Harris

Portland, Ore., Sept. 12 – IMS Health Inc. began a roadshow on Monday in London for a $1.5 billion equivalent offering of senior notes as part of the merger of IMS Health with Quintiles Transnational Holdings Inc., according to a syndicate source.

The Rule 144A and Regulation S deal is coming in tranches of eight-year euro-denominated notes, which come with three years of call protection, and 10-year dollar-denominated notes, which come with five years of call protection.

The roadshow continues on Tuesday in London.

A global investor conference call is also scheduled to take place on Tuesday.

Europe-only investor calls are scheduled for Wednesday.

The deal is also set to price on Wednesday.

Goldman Sachs & Co. is the left bookrunner. J.P. Morgan Securities Inc., Barclays, BofA Merrill Lynch, HSBC and Wells Fargo Securities LLC are the joint bookrunners.

BBVA, Citigroup Global Markets Inc., Fifth Third Bank, Huntington, Mizuho Securities, MUFG, PNC Capital Markets, SunTrust Robinson Humphrey Inc., TD Securities and Williams are the co-managers.

Proceeds, together with the proceeds of the refinancing and available cash, will be used to refinance certain IMS Health and Quintiles debt following the close of the merger.

IMS is a Danbury, Conn.-based information and technology services company serving the health care industry. Quintiles is a Durham, N.C.-based provider of product development and integrated health care services.

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