Clarivate lifts revolver to $750 million, maturity now March 2027

By Rebecca Melvin

Concord, N.H., April 5 – Clarivate plc raised the total revolving borrowing commitments under its Oct. 31, 2019 credit agreement to $750 million from $400 million and extended the maturity date to March 31, 2027, according to an 8-K filed with the Securities and Exchange Commission.

The maturity date is subject to a springing maturity date that is 90 days prior to the maturity date of the term loans outstanding under the agreement or the 4.5% senior secured notes due 2026 issued by Camelot Finance SA.

In addition, the basis of the borrowing rates was updated to the SOFR benchmark from the U.S. dollar Libor benchmark.

The March 31 amendment lists BofA Securities, Inc., Citibank, NA, Goldman Sachs Bank USA, JPMorgan Chase Bank, NA and RBC Capital Markets as joint lead arrangers and joint bookrunners.

Barclays and Morgan Stanley Senior Funding, Inc. are joint bookrunners.

Capital One, NA and HSBC Bank USA, NA are the co-documentation agents.

Clarivate is a London-based data and analytics company focused on scientific and academic research and patent intelligence.

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