By Paul A. Harris
St. Louis, Feb. 25 - IMS Health Inc. priced a $1 billion issue of seven-year senior unsecured notes at par to yield 12½% on Feb. 19, according to a market source.
Goldman Sachs & Co. ran the books.
Proceeds will be used to help fund the buyout by TPG Capital and the CPP Investment Board, a deal expected to close in the first quarter of 2010, subject to approval of IMS shareholders, regulatory approvals and customary closing conditions.
IMS is a Norwalk, Conn.-based provider of market intelligence to the pharmaceutical and health care industries.
| Issuer: | IMS Health Inc.
|
| Amount: | $1 billion
|
| Term: | Seven years
|
| Securities: | Senior unsecured notes
|
| Bookrunner: | Goldman Sachs & Co.
|
| Coupon: | 12½%
|
| Price: | Par
|
| Yield: | 12½%
|
| Spread: | 902 bps
|
| Call protection: | Four years
|
| Trade date: | Feb. 19
|
| Distribution: | Rule 144A for life
|
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