Iqvia talks $1.1 billion eight-year notes at 5% area; pricing Tuesday

By Paul A. Harris

Portland, Ore., May 7 – Iqvia Inc. is in the market with a $1.1 billion drive-by offering of eight-year senior notes (existing ratings Ba3/BB) that is talked to yield in the 5% area, according to market sources.

Books close at 2:30 p.m. ET on Tuesday, and the Rule 144A and Regulation S for life deal is set to price thereafter.

Lead left bookrunner Barclays will bill and deliver. BofA Merrill Lynch, Goldman Sachs & Co. LLC, HSBC Securities (USA) LLC, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.

Citigroup Global Markets Inc., Fifth Third Bank, PNC Capital Markets LLC, Mizuho Securities USA Inc., MUFG, SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC, BBVA Securities Inc., BNP Paribas Securities Corp., Huntington, RBC Capital Markets LLC and NTS are the co-managers.

The notes become callable after three years at par plus 50% of the coupon.

The Durham, N.C.-based provider of health information technologies and clinical research, formerly Quintiles and IMS Health, Inc., plans to use the proceeds to repay debt under its revolving credit facility.

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