Simpson Thacher represented the initial purchasers, led by joint book-running managers, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, UBS Securities LLC, Goldman, Sachs & Co. and Deutsche Bank Securities Inc., in the sale of an aggregate principal amount of additional $600 million 9.375%/10.125% Senior PIK Toggle Notes due 2017 by Jaguar Holding Company I (the “Issuer”), the indirect parent of Pharmaceutical Product Development, LLC (“PPD”). The Issuer used the proceeds from the offering to pay a dividend or distribution to its shareholders and a distribution to its optionholders.
PPD is a leading global contract research organization providing clinical trial and laboratory services to companies in the pharmaceutical and biotechnology industries, in addition to academic, non-profit and government organizations.
The Simpson Thacher team included Art Robinson, Katerina Kousoula, David Azarkh and Katharine Thompson (Capital Markets); Jon Cantor and Michael Cardella (Tax); Paul Koppel and Alexander Cahn (Executive Compensation and Employee Benefits); Genevieve Dorment (IP); Mike Isby (Environmental); and Andrew Pagliuchi (Blue Sky).