Quintiles Transnational, which scrapped plans in March to refinance its debt because of turmoil that disrupted the global credit markets, is ready to try again.
The Durham pharmaceutical services company announced today plans to borrow $2.2 billion. If successful, Quintiles would refinance $1.7 billion of existing debt with better terms.
The private company, with annual revenue of nearly $3 billion, doesn't have set plans for the additional capital it plans to raise, but some analysts speculated officials are hunting for acquisitions or other deals.
Quintiles wants to take advantage of "a debt market currently offering attractive terms to companies with strong financial track records," it wrote in a prepared statement.
Quintiles is the world's largest contract research organization and helps pharmaceutical and biotechnology firms develop, test and market their medicines. It employs more than 20,000 people in 60 countries, including about 1,400 in the Triangle.
In March, Quintiles postponed plans to borrow about $2.43 billion.