Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for MPH Acquisition Holdings LLC > News item |
MultiPlan upsizes to $1.3 billion, finalizes talk on eight-year notes at 5 5/8%-5¾%
By Paul A. Harris
Portland, Ore., Oct. 26 – MultiPlan upsized its offering of eight-year senior notes (B3/B-) to $1.3 billion from $1.2 billion on Monday, according to a market source.
Talk was revised to 5 5/8% to 5¾% from earlier talk in the 5¾% area.
Books were scheduled to close early Monday evening, and the deal, which was in the market as a Monday drive-by, was set to price thereafter.
No terms were available at press time.
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.
The company postponed its plans to refinance its term loan B.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.