Quintiles IMS Holdings, Inc. (NYSE:Q) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
| Entry into a Material Definitive Agreement. |
On February28, 2017, Quintiles IMS Incorporated (the Issuer), a
wholly-owned subsidiary of Quintiles IMS Holdings, Inc.
(QuintilesIMS), completed the issuance and sale of 1,425million
in gross proceeds of the Issuers 3.25% Senior Notes due 2025 (the
Notes). The offering reflects an increase of 575million from the
previously announced 850million aggregate principal amount. The
Notes were issued to an Indenture, dated February28, 2017, among
the Issuer, U.S. Bank National Association, as trustee of the
Notes, and certain subsidiaries of the Issuer as guarantors. The
Issuer intends to refinance all of the outstanding term B loans
under its senior secured credit facility with an extended and
repriced term B loan facility. The net proceeds from the notes
offering, together with proceeds from the proposed refinancing,
will be used to refinance certain of the Issuers existing
indebtedness, to pay fees and expenses related to the notes
offering and the refinancing and for other general corporate
purposes, which may include share repurchases, including the
repurchase of shares from affiliates and significant
shareholders, and future acquisitions.
The Notes are unsecured obligations of the Issuer, will mature on
March15, 2025 and will bear interest at the rate of 3.25% per
year, with interest payable semi-annually on March15 and
September15 of each year, beginning on September15, 2017. The
Issuer may redeem the Notes prior to their final stated maturity,
subject to a customary make-whole premium at any time prior to
March15, 2020 (subject to a customary equity claw redemption
right) and thereafter subject to annually declining redemption
premiums at any time prior to March15, 2022.
The foregoing description of the Notes is qualified in its
entirety by reference to the indenture relating thereto, a copy
of which is filed as Exhibit 4.1 to this Current Report on Form
8-K.
Following the closing of the offering of the Notes, QuintilesIMS
consummated the share repurchase from certain of its principal
shareholders that was previously announced on February24, 2017.
Item2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
The information set forth above under Item 1.01 of this Current
Report on Form 8-K is incorporated by reference into this
Item2.03.
| Item9.01 | Financial Statements and Exhibits. |
See the Exhibit Index attached hereto.
About Quintiles IMS Holdings, Inc. (NYSE:Q)
Quintiles IMS Holdings Inc, formerly Quintiles Transnational Holdings Inc., is a provider of biopharmaceutical development services and commercial outsourcing services. It is engaged in the development and commercialization of pharmaceutical therapies. Its segments include Product Development and Integrated Healthcare Services. Its Product Development segment is a contract research organization and is focused on Phase II-IV clinical trials and associated laboratory and analytical activities. The Integrated Healthcare Services segment includes commercial pharmaceutical sales and service organizations, and provides services, including commercial services, such as contract pharmaceutical sales forces, and healthcare business services for the healthcare sector, such as phase research, market access and consulting, health information analytics and technology consulting, and other healthcare solutions. Quintiles IMS Holdings, Inc. (NYSE:Q) Recent Trading Information
Quintiles IMS Holdings, Inc. (NYSE:Q) closed its last trading session down -2.08 at 77.39 with 1,934,701 shares trading hands.
