IQVIA Announces Pricing of Upsized Offering of Senior Secured Notes and Senior Notes

Rhea-AI Summary

IQVIA Holdings Inc. announces the pricing of $1.25 billion in senior notes offering. The offering consists of $750 million in senior secured notes due 2028 and $500 million in senior notes due 2030. The proceeds will be used to repay existing borrowings and cover expenses related to the offering.

INNOVATION PARK, N.C.--(BUSINESS WIRE)-- IQVIA Holdings Inc. (NYSE:IQV) today announced that its wholly-owned subsidiary, IQVIA Inc. (the “Issuer”), priced an offering of $1,250,000,000 in aggregate principal amount of senior notes, which was upsized due to strong demand, consisting of $750,000,000 in aggregate principal amount of senior secured notes due 2028 (the “Senior Secured Notes”) and $500,000,000 in aggregate principal amount of senior notes due 2030 (the “Senior Notes” and, together with the Senior Secured Notes, the “Notes”). The proceeds from the Notes offering will be used to repay existing borrowings under the Issuer’s revolving credit facility and to pay fees and expenses related to the Notes offering.

The Senior Secured Notes will bear interest at a rate of 5.700% per annum and will pay interest semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2023. The Senior Secured Notes will mature on May 15, 2028, unless earlier repurchased or redeemed in accordance with their terms. The Senior Notes will bear interest at a rate of 6.500% per annum and will pay interest semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2023. The Senior Notes will mature on May 15, 2030, unless earlier repurchased or redeemed in accordance with their terms. The issuance of the Notes is expected to occur on or about May 23, 2023, subject to the satisfaction of customary closing conditions.

Certain statements in this press release are forward-looking statements. These statements involve a number of risks, uncertainties and other factors, including the failure to consummate the Notes offering and potential changes in market conditions that could cause actual results to differ materially.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer, solicitation or sale of the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful. The Notes to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in the United States in reliance on Rule 144A under the Securities Act and outside the United States only to non-U.S. investors pursuant to Regulation S under the Securities Act. Any offer of the Notes will be made only by means of a private offering memorandum.

About IQVIA

IQVIA (NYSE:IQV) is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. IQVIA creates intelligent connections across all aspects of healthcare through its analytics, transformative technology, big data resources and extensive domain expertise. IQVIA Connected Intelligence™ delivers powerful insights with speed and agility — enabling customers to accelerate the clinical development and commercialization of innovative medical treatments that improve healthcare outcomes for patients. With approximately 87,000 employees, IQVIA conducts operations in more than 100 countries.

IQVIA is a global leader in protecting individual patient privacy. The company uses a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analyzing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes. IQVIA’s insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230518005771/en/

Nick Childs, IQVIA Investor Relations (nick.childs@iqvia.com)

+1.973.316.3828

Source: IQVIA Holdings Inc.

FAQ

What is the purpose of the offering?

The proceeds from the offering will be used to repay existing borrowings and pay fees and expenses related to the offering.

What are the interest rates on the Senior Secured Notes and Senior Notes?

The Senior Secured Notes will bear interest at a rate of 5.700% per annum, while the Senior Notes will bear interest at a rate of 6.500% per annum.

When will the Senior Secured Notes and Senior Notes mature?

The Senior Secured Notes will mature on May 15, 2028, and the Senior Notes will mature on May 15, 2030.

Are the Notes registered under the Securities Act?

No, the Notes have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.

Who can participate in the offering?

The Notes will be offered to qualified institutional buyers in the United States and non-U.S. investors outside the United States.