MultiPlan starts roadshow for $1 billion eight-year notes for buyout

By Paul A. Harris

Portland, Ore., March 14 - MPH Merger Sub LLC began a roadshow on Friday for a $1 billion offering of eight-year senior notes (Caa1/CCC+) backing the buyout of MultiPlan, Inc., according to a market source.

The Rule 144A and Regulation S for life notes are expected to price on Tuesday.

J.P. Morgan Securities LLC and Barclays are the joint bookrunners.

The notes become callable after three years at par plus 75% of the coupon.

Debt financing for the buyout also includes a $2.28 billion credit facility.

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

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

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