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MultiPlan launches $3.2 billion term loan B repricing to investors
By Sara Rosenberg
New York, May 30 – MultiPlan Inc. held a lender call at 3 p.m. ET on Tuesday to launch a repricing of its $3.2 billion term loan B due June 7, 2023, according to a market source.
Barclays and Goldman Sachs Bank USA are the bookrunners on the deal.
The repricing is talked at Libor plus 275 basis points with a step-down to Libor plus 250 bps when consolidated first-lien debt to consolidated EBITDA is 3.75 times, a 1% Libor floor and a par issue price, the source said.
The repriced loan includes 101 soft call protection for six months.
Cashless roll is available for the repricing, the source added.
The repricing will take the term loan down from Libor plus 375 bps with a 1% Libor floor.
Commitments/consents are due at 5 p.m. ET on Friday.
MultiPlan is a New York-based provider of health care cost management solutions.
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