New Issue: IMS Health prices €275 million eight-year notes at par to yield 4 1/8%

By Paul A. Harris

Portland, Ore., March 17 – IMS Health Inc. priced a €275 million issue of eight-year senior notes (expected B3/confirmed B+) at par to yield 4 1/8% on Tuesday, according to a market source.

The yield printed at the tight end of yield talk in the 4¼% area.

Goldman Sachs International, BofA Merrill Lynch, Barclays, HSBC, JPMorgan and Wells Fargo were the joint bookrunners.

The Danbury, Conn.-based provider of information and technology services to the health care industry plans to use the proceeds to partially fund the acquisition of certain customer relationship management and strategic data businesses of Cegedim SA.

The notes become callable after three years at par plus 75% of the coupon. A special call provision makes the entire issue callable at the reoffer price if the acquisition has not closed or terminated prior to Sept. 1, 2015.

Issuer:	IMS Health Inc.
Amount:	€275 million
Maturity:	April 1, 2023
Securities:	Senior notes
Bookrunners:	Goldman Sachs International, BofA Merrill Lynch, Barclays, HSBC, JPMorgan, Wells Fargo
Co-managers:	Deutsche Bank, Fifth Third, Morgan Stanley, Mizuho, RBC, SunTrust Robinson Humphrey Inc., TPG Capital
Coupon:	4 1/8%
Price:	Par
Yield:	4 1/8%
First call:	April 1, 2018 at 103.938
Trade date:	March 17
Settlement date:	March 30
Ratings:	Moody's: expected B3
	Standard & Poor's: B+
Distribution:	Rule 144A and Regulation S
Price talk:	4¼% area
Marketing:	Roadshow

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.