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Iqvia undertakes refinancing with sale of €1.45 billion of five- and eight-year notes
By Paul A. Harris
Portland, Ore., Feb. 16 – Iqvia Holdings Inc. plans to sell €1.45 billion of senior (Ba3/BB) in two tranches, according to market sources.
The deal includes five-year notes callable after two years at par plus 50% of the coupon, with initial talk of 2% to 2¼%, and eight-year notes callable after three years at par plus 50% of the coupon, with initial talk in the 2½% area.
Tranche sizes will be €400 million minimum. The final sizes remain to be determined.
The Rule 144A and Regulation S deal may price as early as Wednesday, a source said.
Joint bookrunner J.P. Morgan Securities LLC will bill and deliver. Barclays, BofA Securities Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., Wells Fargo Securities LLC, BBVA Securities Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Fifth Third Securities Inc., Huntington Investment Co., Mizuho Securities USA Inc., MUFG, PNC Capital Markets LLC, RBC Capital Markets LLC, Siebert Williams Shank & Co. LLC, TD Securities (USA) LLC and Truist Securities Inc. are joint bookrunners.
Danbury, Conn.-based provider of technology and research services to the life sciences industry plans to use the proceeds to redeem its 3¼% senior notes due 2025.
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