New Issue: Iqvia prices $1.1 billion eight-year notes at par to yield 5%

By Paul A. Harris

Portland, Ore., May 7 – Iqvia Inc. priced a $1.1 billion drive-by issue of eight-year senior notes (Ba3/BB) at par to yield 5% on Tuesday, according to market sources.

The yield printed in the middle of yield talk in the 5% area.

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

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.

Issuer:	Iqvia Inc.
Amount:	$1.1 billion
Maturity:	May 15, 2027
Securities:	Senior notes
Left bookrunner:	Barclays
Joint bookrunners:	BofA Merrill Lynch, Goldman Sachs & Co. LLC, HSBC Securities (USA) LLC, J.P. Morgan Securities LLC and Wells Fargo Securities LLC
Co-managers:	Citigroup Global Markets Inc., Fifth Third Securities Inc., 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
Coupon:	5%
Price:	Par
Yield:	5%
Spread:	260 bps
First call:	May 15, 2022 at 102.5
Equity clawback:	40% at 105 until May 15, 2022
Trade date:	May 7
Settlement date:	May 10
Ratings:	Moody's: Ba3
	S&P: BB
Distribution:	Rule 144A and Regulation S for life
Price talk:	5% area
Marketing:	Quick to market

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