The tender offer, executed by Clarivate Science Holdings Corporation, expired on September 23, 2026. With the total principal amount tendered reaching $665,198,000 against the $75,000,000 target, the company confirmed it will accept only a fraction of the offered notes. Holders whose securities were accepted will receive a total consideration of $975.15 per $1,000 of principal, plus accrued interest, with settlement scheduled for September 25, 2026.
Clarivate Finalizes $75 Million Debt Buyback
Investors rushed to offload Clarivate Plc’s 2028 senior secured notes, submitting over $665 million in tenders for a buyback offer capped at just $75 million. The massive oversubscription forced the company to implement a proration factor of 11.3% for the accepted debt securities.
Global Bondholder Services Corporation managed the tender process, while Citigroup Global Markets Inc. acted as the dealer manager. Any notes not accepted for purchase will be returned to the respective holders. This move marks a significant reduction in the company's outstanding 3.875% senior secured debt, which held an aggregate principal amount of $825 million prior to this transaction.
Comments (0)
No comments yet. Be the first!