Clarivate Announces Final Results of Cash Tender Offers for Outstanding Debt Securities
Clarivate Plc (NYSE: CLVT) has announced the conclusion of its cash tender offers to repurchase outstanding senior notes through its subsidiary, Clarivate Science Holdings Corporation. The company successfully repurchased a total aggregate principal amount of $533 million in debt, consisting of 3.875% Senior Secured Notes due 2028 and 4.875% Senior Notes due 2029. Due to high demand from bondholders, Clarivate exercised its right to increase the purchase cap for both series by 2%. Consequently, the company applied proration factors of approximately 67.9% for the 2028 notes and 45.5% for the 2029 notes to manage the volume of tendered securities within the expanded limits.
Tickers: $CLVT
Topics: capital structure debt repurchase senior notes tender offer
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Part of the story Clarivate Announces Final Results of Cash Tender Offers for Outstanding Debt Securities (5 articles)