QuintilesIMS Holdings, Inc. (NYSE: Q) today announced that its wholly owned subsidiary, QuintilesIMS Incorporated (the “Issuer”), intends to raise €850 million in gross proceeds through an offering of senior notes due 2025. In connection with the notes offering, the Issuer intends to refinance all of the outstanding term B loans under its senior secured credit facility with an extended, upsized and repriced term B loan facility in an aggregate principal amount equal to $3,065 million equivalent amount comprised of both U.S. dollar denominated term B loans and euro denominated term B loans. The extended term B loans will mature in 2024 and will represent an increase of approximately $600 million from the amount of term B loans currently outstanding. The net proceeds from the notes offering and the refinancing will be used to refinance certain indebtedness of the Issuer, to pay fees and expenses related to the notes offering and the refinancing and for other general corporate purposes, which may include share repurchases, including the repurchase of shares from affiliates and significant shareholders, and future acquisitions. The consummation of the notes offering and the refinancing are each subject to market and other conditions.
Certain statements in this press release are forward-looking statements. These statements involve a number of risks, uncertainties and other factors including the failure to consummate the notes offering and the refinancing and potential changes in market conditions that could cause actual results to differ materially.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes. The notes to be offered have not been, and will not be, registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933. The notes are being offered only to qualified institutional buyers in the United States in reliance on Rule 144A under the Securities Act of 1933 and outside the United States only to non-U.S. investors pursuant to Regulation S.