MultiPlan seeks $315 million incremental senior secured term loan

By Sara Rosenberg

New York, March 8 - MultiPlan Inc. is looking to get a $315 million incremental senior secured term loan (B+), according to a market source.

Goldman Sachs, Bank of America and Credit Suisse are the joint lead arrangers on the deal.

Price talk on the loan is Libor plus 425 basis points with a 1.5% Libor floor and an original issue discount of 99, the source said.

Proceeds will be used to help fund the acquisition of Viant Inc.

On March 3, MultiPlan revealed that it was granted early termination of the Hart-Scott-Rodino waiting period, officially clearing it to proceed with the acquisition.

The company had already come to market with this term loan last year, but in December 2009, the deal was pulled since MultiPlan was told that it wouldn't be getting expedited approval from the Department of Justice for the acquisition.

The pulled term loan was being talked at Libor plus 425 basis points with a 2% Libor floor and an original issue discount of 98.

MultiPlan is a New York-based provider of health care cost management services. Viant is a Naperville, Ill.-based provider of health care payment services.

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