Davis Polk advised the administrative agent in connection with a $3.1 billion best-efforts financing comprised of a $1 billion senior secured term loan A facility, a $1.6 billion senior secured term loan B facility and a $500 million senior secured cash-flow revolver. The proceeds of the best efforts financing were used to refinance the existing credit facilities of INC Research, LLC and inVentiv Group Holdings, Inc., to redeem a portion of inVentiv’s senior unsecured notes and to pay fees and expenses in connection with the merger of Double Eagle Parent, Inc., an indirect parent of inVentiv, with and into INC Research Holdings, Inc.

inVentiv is a global professional services organization that provides comprehensive and integrated clinical and commercial outsourcing services designed to help the biopharmaceutical industry accelerate the delivery of much-needed therapies to market. INC Research is a global contract research organization providing a full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The combined company is a fully integrated biopharmaceutical solutions organization with more than 22,000 employees and the ability to support customers in more than 110 countries.

The Davis Polk finance team included partner Jason Kyrwood and associates Jonathan B. Brown, Alexandra (Z-Z) L. Cowen and Ilona C. Potiha. Counsel Jeanine P. McGuinness and associate Britt Mosman provided regulatory advice. Partner Frank J. Azzopardi and associate Jesse L. Hallock provided intellectual property and technology advice. Partner Michael Mollerus and associate Ariel David Siman provided tax advice. Members of the Davis Polk team are based in the New York and Washington DC offices.