MultiPlan to launch $2.28 billion credit facility on Monday afternoon

By Sara Rosenberg

New York, March 6 - MultiPlan Inc. is set to hold a bank meeting at 2:30 p.m. ET on Monday to launch a $2,275,000,000 credit facility, according to a market source.

Barclays and J.P. Morgan Securities LLC are the lead banks on the deal.

The facility consists of a $75 million five-year revolver and a $2.2 billion seven-year term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Starr Investment Holdings and Partners Group from Silver Lake and BC Partners and to refinance existing debt.

Closing is subject to regulatory approvals and customary conditions.

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

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