Quintiles to redeem $525 million 9½% notes due 2014 with loan proceeds

By Melissa Kory

Cleveland, March 8 - Quintiles Transnational Holdings Inc. announced that it intends to redeem $525 million of its 9½% senior notes due December 2014 using proceeds from its planned $2.43 billion of new credit facilities.

The credit facilities include a $225 million first-lien revolving credit facility due 2016 and a $2.2 billion first-lien term loan B due 2018.

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

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