MultiPlan plans to refinance 7 1/8% senior notes, credit facilities

Chicago, Oct. 5 – MultiPlan, Inc. announced plans to refinance its 7 1/8% senior notes due 2024 and existing senior secured credit facility debt, according to a press release.

The company is in active dialogue with its advisers and certain rating agencies; however, the timing and the terms of the refinancing are subject to market conditions.

MultiPlan is in the final stages of a plan to combine with Churchill Capital Corp III, set for Oct. 8.

MultiPlan and Churchill III are confident closing conditions will be satisfied, based on voting agreements with stockholders representing around 41% of the outstanding common stock of Churchill III, the additional voting commitment of MultiPlan which owns 6.6% of the outstanding common stock, non-redemption commitments by certain Churchill III stockholders of approximately $290 million, and outstanding financing commitments of approximately $2.6 billion.

A special meeting is set for the vote for Churchill common stockholders.

MultiPlan is a New York-based provider of health care cost management solutions. Churchill is a New York-based public investment vehicle.

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