Full Press Release Details
Announces Proposed Offering of $800 Million of Senior Notes
RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--May 1, 2015--Quintiles
Transnational Holdings Inc. (NYSE: Q) (the "Company" or "Quintiles")
announced today a proposed offering by its wholly owned subsidiary,
Quintiles Transnational Corp. ("Quintiles Transnational"), of $800
million principal amount of senior unsecured notes due 2023 (the "Senior
Notes"), subject to market and other conditions. The Senior Notes will
be offered in a private placement that is exempt from the registration
requirements of the Securities Act of 1933, as amended (the "Securities
Act"). The Company intends to use the net proceeds of the offering,
together with proceeds from its previously announced proposed new senior
secured credit facility, to refinance its existing credit facilities, as
well as for general corporate purposes, including corporate transactions
and equity repurchases. The Senior Notes will be fully and
unconditionally guaranteed on an unsecured basis by certain of Quintiles
Transnational's domestic subsidiaries. The Senior Notes will be offered
in the United States only to qualified institutional buyers pursuant to
Rule 144A under the Securities Act and outside the United States to
non-U.S. persons pursuant to Regulation S under the Securities Act.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy the Senior Notes or any other
securities. The Senior Notes have not been, and will not be, registered
under the Securities Act, or any state securities laws, 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 and applicable state securities law.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements reflect, among other things, our current
expectations regarding the proposed offering of Senior Notes, the
related refinancing transactions and the use of proceeds therefrom,
which are subject to known and unknown risks, uncertainties and other
factors that may cause actual results to differ materially from those
expressed or implied by such forward-looking statements. Any statements
contained herein that are not statements of historical fact may be
forward-looking statements and should be evaluated as such. Without
limiting the foregoing, the words "anticipates," "believes,"
"estimates," "expects," "intends," "may," "plans," "projects," "should,"
"targets," "will" and the negative thereof and similar words and
expressions are intended to identify forward-looking statements. Actual
results may differ materially from our expectations due to a number of
factors, including changes in market conditions and our ability to
complete the proposed offering and refinancing on the terms described or
at all. For a further discussion of the risks relating to our business,
see the "Risk Factors" section in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2014, filed with the SEC on February 12,
2015, as such factors may be amended or supplemented from time to time
in our periodic filings with the SEC, which are accessible on the SEC's
website at www.sec.gov.
These factors should not be construed as exhaustive and should be read
in conjunction with the other cautionary statements that are included in
this release and in the Company's filings with the SEC. The Company
assumes no obligation to update any such forward-looking statement after
the date of this release, whether as a result of new information, future
developments or otherwise.
Quintiles (NYSE: Q), a Fortune 500 company, is the world's largest
provider of biopharmaceutical development and commercial outsourcing
services. With a network of more than 33,000 employees conducting
business in approximately 100 countries, we helped develop or
commercialize all of 2014's top-75 best-selling drugs on the market.
Quintiles applies the breadth and depth of our service offerings along
with extensive therapeutic, scientific and analytics expertise to help
our customers navigate an increasingly complex healthcare environment as
they seek to improve efficiency and effectiveness in the delivery of
better healthcare outcomes. To learn more about Quintiles, please visit www.quintiles.com.
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Phil Bridges, Media Relations (phil.bridges@quintiles.com)
1.919.998.1653 (office) +1.919.457.6347 (mobile)
Investor Relations (InvestorRelations@quintiles.com)