MultiPlan launches $1.6 billion term loan B at Libor plus 400-425 bps

By Sara Rosenberg

New York, Aug. 9 – MultiPlan Inc. launched on Monday its $1.6 billion seven-year term loan B with price talk of Libor plus 400 basis points to 425 bps with a 0.5% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum.

Goldman Sachs Bank USA, Barclays, Citigroup Global Markets Inc., BofA Securities Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and UBS Investment Bank are the arrangers on the deal.

Commitments are due at 10 a.m. ET on Aug. 17, the source added.

Proceeds will be used with $775 million of other secured debt to refinance an existing $2.341 billion term loan G and pay transaction related fees and expenses.

MultiPlan is a New York-based provider of health care cost management solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.