IQVIA Announces Senior Secured Credit Facility Transaction to Refinance Existing Indebtedness

• USD term B loans of $950 million due 2025, priced at LIBOR plus a margin of 175 basis points, which represents a 25 basis point margin improvement compared to IQVIA Inc.’s existing USD term B loans.
• EUR term B loans of approximately $700 million due 2025, priced at EURIBOR plus a margin of 200 basis points, consistent with IQVIA Inc.’s existing EUR term B loans. The EUR term B loans have a floor of 50 basis points, which represents a 25 basis point improvement compared to IQVIA Inc.’s existing EUR term B loans.

The proceeds of the additional term B loans were used to pay down IQVIA Inc.’s revolving credit facility, refinance $650 million of existing USD term B loans due 2024 and to pay fees and expenses in connection with the transactions.

In addition, IQVIA Inc. entered into Amendment No. 4 (the “Amendment”) to its Fourth Amended and Restated Credit Agreement (the “Senior Secured Credit Facility”). Pursuant to the amendment, IQVIA Inc. and its lenders agreed to the transactions described above, and also agreed to amend the terms of IQVIA Inc.’s existing USD and EUR term A loans (the “Term A Loans”) aggregating approximately $1.27 billion to (i) extend the maturity of the Term A Loans from 2021 to 2023, (ii) reduce the interest rate margin applicable to the Term A Loans from the current 225 basis points to 175 basis points, and (iii) revise the amortization schedule of the Term A Loans. Finally, IQVIA Inc. and its lenders agreed to amend the terms of the existing revolving credit facility to (i) extend the maturity of the revolving credit facility from 2021 to 2023 and (ii) reduce the interest rate margin applicable to the loans under the revolving credit facility 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 the IQVIA Inc.’s total net leverage ratio. The Amendment with respect to the Term A Loans and the revolving credit facility is expected to become effective on June 13, 2018, subject to 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 Amendment and potential changes in market conditions that could cause actual results to differ materially.

About IQVIA

IQVIA (NYSE:IQV) is a leading global provider of advanced analytics, technology solutions, and contract research services to the life sciences industry. Formed through the merger of IMS Health and Quintiles, IQVIA applies human data science — leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science — to enable companies to reimagine and develop new approaches to clinical development and commercialization, speed innovation, and accelerate improvements in healthcare outcomes. Powered by the IQVIA CORE™, IQVIA delivers unique and actionable insights at the intersection of large-scale analytics, transformative technology and extensive domain expertise, as well as execution capabilities. With more than 55,000 employees, IQVIA conducts operations in more than 100 countries.

As a global leader in protecting individual patient privacy, IQVIA uses healthcare data to deliver critical, real-world disease and treatment insights. Through a wide variety of privacy-enhancing technologies and safeguards, IQVIA protects individual privacy while managing information to drive healthcare forward. These insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders in the development and approval of new therapies, and to identify unmet treatment needs and understand the safety, effectiveness and value of pharmaceutical products in improving overall health outcomes.

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