MultiPlan sets $1.3 billion term loan pricing at Libor plus 475 bps

By Sara Rosenberg

New York, Aug. 12 - MultiPlan Inc. firmed pricing on its $1.3 billion term loan at Libor plus 475 basis points with a 1.75% Libor floor and an original issue discount of 98, according to a market source.

Price talk had been Libor plus 450 bps to 475 bps with a 1.75% Libor floor and an original issue discount of 98 to 981/2.

Also, 101 soft call protection for one year was added to the term loan, the source said.

The company's $1.375 billion credit facility (Ba3/B) also includes a $75 million revolver that is priced at Libor plus 475 bps with a 1.75% Libor floor as well.

Allocations on the deal may go out as early as Friday, the source added.

Barclays Capital, Bank of America and Credit Suisse are the leads on the deal, with Barclays the left lead.

Proceeds will be used to help fund the buyout of the company by BC Partners and Silver Lake from the Carlyle Group and Welsh, Carson, Anderson & Stowe.

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

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