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 March7, 2017, Quintiles IMS Incorporated (the Company), a
wholly-owned subsidiary of Quintiles IMS Holdings, Inc., entered
into an amendment to its senior secured credit facility (the
Credit Agreement) to refinance all of the outstanding term B
loans under the Credit Agreement with an extended and repriced
term B loan facility. The extended term B loans will mature in
2024. The interest rate margin applicable to the term B loans
denominated in U.S. dollars bearing interest based on LIBOR was
reduced by 0.50% from 2.50% to 2.00% and the interest rate margin
applicable to the term B loans denominated in euros bearing
interest based on EURIBOR was reduced by 0.75% from 2.75% to
2.00%. For purposes of determining the applicable interest rate
for term B loans, both the LIBOR floor and the EURIBOR floor were
reduced from 1.00% to 0.75%. In connection with the refinancing,
the Company elected to reallocate the amount outstanding under
the term B loan facilities such that $1,200,000,000 of term B
loans is denominated in U.S. dollars and 1,200,000,000 is
denominated in euros.
The foregoing description of the refinancing is qualified in its
entirety by reference to the amendment relating thereto, a copy
of which is filed as Exhibit 10.1 to this Current Report on Form
8-K.
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.
| (d) | Exhibits. |
| 10.1 |
Amendment No.1, dated March7, 2017, to Fourth Amended and Restated Credit Agreement, dated October3, 2016 (and filed with the Securities and Exchange Commission as Annex B to Exhibit 10.9 on Form 8-K dated October3, 2016), among Quintiles IMS Incorporated, Quintiles IMS Holdings, Inc., the Guarantors party thereto, Bank of America N.A., as Administrative Agent and Collateral Agent, the Incremental Term B-1 Euro Lenders party thereto and the other Lenders party thereto. |
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 -0.42 at 77.48 with 1,340,661 shares trading hands.
