Clarivate Commences Offer to Purchase for Cash Certain of its Outstanding Debt Securities
Clarivate Plc announced that its wholly-owned subsidiary, Clarivate Science Holdings Corporation, has commenced a cash tender offer to purchase up to $75 million of its outstanding 3.875% senior secured notes due 2028. The notes have $825 million in aggregate principal outstanding, so the tender cap covers roughly 9% of the issue; pricing is set at a fixed spread of 50 basis points over the 4.125% Treasury due June 30, 2028, with the offer expiring September 23, 2026 and settlement expected September 25, 2026.
Key figures
- Coupon rate
- 3.875%
- Maturity date
- July 1, 2028
- Tender cap usd
- 75000000
- Fixed spread bps
- 50
- Reference security
- 4.125% UST due June 30, 2028
- Expiration datetime
- 5:00 p.m. New York City time, September 23, 2026
- Expected settlement date
- September 25, 2026
- Notes principal outstanding usd
- 825000000
AI analysis
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