MultiPlan readies launch of $3.37 billion credit facility for Monday

By Sara Rosenberg

New York, May 12 – MultiPlan Inc. is scheduled to hold bank meeting on Monday to launch a $3.37 billion credit facility, according to a market source.

Barclays and Goldman Sachs Bank USA are the bookrunners on the deal.

The facility consists of a $100 million five-year revolver and a $3.27 billion seven-year term loan B, the source said.

Proceeds will be used to help fund the buyout of the company by Hellman & Friedman from Starr Investment Holdings LLC and Partners Group.

Upon closing, Starr and Partners Group will retain minority investments in the company on behalf of their clients. Also, GIC, Singapore’s Sovereign Wealth Fund, and Leonard Green & Partners will invest alongside Hellman & Friedman.

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

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