IQVIA closed a $950 million term B loan and a $700 million European term B loan with Bank of America as administrative agent.
According to a related 8-K filing, the term loans were used to pay down the company’s revolving credit facility, refinance $650 million of existing term B loans due in 2024 and to pay fees and expenses in connection with the transaction.
An amendment extended the maturity of the company’s $1.27 billion term A loans from 2021 to 2023 and reduced the interest rate margin applicable to the loans from the current 225 basis points to 175 basis points, as well as revising the amortization schedule of the loans.
The maturity date of the company’s existing revolving credit facility was also extended from 2021 to 2023, and the interest rate margin applicable to the revolver was reduced from the current 225 basis points to 175 basis points. The pricing of both the term A loans and the revolving credit facility are subject to adjustment in the future based on IQVIA’s total net leverage ratio.
IQVIA provides advanced analytics, technology solutions and contract research services to the life sciences industry.
