MultiPlan to price $1.2 billion eight-year senior notes on Monday

By Paul A. Harris

Portland, Ore., Oct. 26 – MultiPlan plans to price a $1.2 billion offering of eight-year senior notes (B3/B-) in a Monday drive-by trailing a late-morning conference call with investors, according to a syndicate source.

Active bookrunner Goldman Sachs & Co. LLC will bill and deliver. Citigroup Global Markets Inc. is also an active bookrunner.

Barclays, BofA Securities Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and UBS Securities LLC are joint bookrunners.

The notes become callable after three years at par plus 50% of the coupon.

The issuing entity will be MPH Acquisition Holdings LLC.

The New York-based provider of health care cost management solutions plans to use the proceeds plus borrowings under its new senior secured credit facilities, together with approximately $715 million of cash on hand, to redeem all of the outstanding 7 1/8% notes due 2024 and repay debt under its existing senior secured credit facilities.

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