IMS trades up after allocation
A Eu550m term loan from US pharmaceutical industry intelligence provider IMS Health traded up in the secondary market after being allocated to lenders on Wednesday, said market participants.
The euro tranche, priced alongside a $1.25bn dollar loan, was priced at a margin of 375bp with a 1.75% Euribor floor and issued at 99%. It had reached 100.325% on Thursday, said one fund manager, who welcomed the deal.
The deal backs the buyout of IMS by TPG Capital
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