ICON prices $2.15 billion in senior unsecured notes

ICON plc (NASDAQ: ICLR) has priced $2.15 billion in senior unsecured notes through its wholly-owned subsidiary, ICON Investments Six Designated Activity Company, according to a press release.

The offering consists of three tranches: $500 million of 5.064% notes due 2029, $1.0 billion of 5.421% notes due 2031, and $650 million of 5.995% notes due 2036. The notes will be guaranteed on a senior unsecured basis by ICON. The offering is expected to close on August 13, 2026, subject to customary closing conditions.

ICON intends to use the net proceeds to repay all outstanding borrowings under its bridge facility credit agreement, repay all outstanding senior secured term loans, and redeem in full its outstanding 5.809% Senior Secured Notes due 2027.

Upon repayment of the bridge facility and existing term loans, collateral securing ICON's revolving credit facility and existing notes will be automatically released, along with subsidiary guarantees under those notes.

The notes are being offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and outside the United States under Regulation S. The notes have not been registered under the Securities Act.

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