Quintiles to launch $2 billion and €1 billion term loans on Thursday

By Sara Rosenberg

New York, Feb. 22 – Quintiles IMS Holdings, Inc.’s wholly owned subsidiary, Quintiles IMS Inc., is scheduled to hold a lender call on Thursday to launch a $2 billion term loan due March 2024 and a €1 billion term loan due March 2024, according to a market source.

J.P. Morgan Securities LLC is the left lead on the deal.

Price talk on the term loans is Libor/Euribor plus 200 basis points to 225 bps with a 0.75% floor and an original issue discount of 99.75 to par, the source said.

The term loans include 101 soft call protection for six months.

Commitments are due at noon ET on March 2, the source added.

Proceeds will be used to refinance an existing term loan B and for general corporate purposes, which may include share repurchases and future acquisitions. The transaction will result in an extended, upsized and repriced term B loan facility.

In addition to the term loans, the company plans on issuing €850 million of senior notes due 2025.

Quintiles is an information and technology-enabled healthcare service provider.

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