Iqvia launches €1.45 billion two-part offering of senior notes tighter than initial guidance

By Paul A. Harris

Portland, Ore., Feb. 17 – Iqvia Holdings Inc. launched its €1.45 billion two-part offering of senior notes (Ba3/BB) tighter than initial guidance, market sources say.

The deal includes five-year notes callable after two years at par plus 50% of the coupon, launched at 1¾%, versus initial guidance of 2% to 2¼%, and eight-year notes callable after three years at par plus 50% of the coupon, launched at 2¼%, versus initial guidance 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 is expected to price on Wednesday.

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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