Clarivate Plc (NYSE: CLVT) announced the pricing terms for cash tender offers to purchase certain outstanding debt securities. The offers are being made by Clarivate Science Holdings Corporation, a wholly-owned subsidiary of Clarivate, for its 3.875% Senior Secured Notes due 2028 and its 4.875% Senior Notes due 2029.
The offers are subject to a total principal amount cap of $500 million and specific caps for each series of notes. The aggregate principal amount of the 2028 Notes to be purchased is capped at $415 million, while the 2029 Notes are capped at $118 million. The company has the right to increase the aggregate principal amount of notes accepted for purchase by 2% of the outstanding aggregate principal amount of each series.
Clarivate has retained Citigroup Global Markets Inc. as the dealer manager and Global Bondholder Services Corporation as the tender and information agent. The expiration date for the offers was set for 5:00 p.m., New York City time, on November 10, 2026, with a settlement date expected to be November 13, 2026.
The table below outlines the specific pricing and terms for each series of notes:
- 3.875% Senior Secured Notes due 2028: The total consideration is $979.08 per $1,000 principal amount. The aggregate principal amount outstanding is $750 million.
- 4.875% Senior Notes due 2029: The total consideration is $928.75 per $1,000 principal amount. The aggregate principal amount outstanding is $900 million.
Holders who tender their notes will also receive accrued and unpaid interest from the last interest payment date up to, but excluding, the settlement date.
