MultiPlan completes $3.085B debt refinancing with new first lien notes and credit facilities

Claritev Corp

Issued $600M New 6.50% cash/5% PIK Second-Out A Notes due 2030 and $763M 5.75% Second-Out B Notes due 2030.
Issued $753M New 6% cash/0.75% PIK Third-Out A Notes (MPH) and $969M Third-Out B Notes (MultiPlan) due 2031.
New credit facilities: $325M First-Out Term Loans, $1.14B Second-Out Term Loans (both due 2030), and $350M revolver due 2029.
All existing secured notes, unsecured notes, convertible notes, and term loans were exchanged; old restrictive covenants eliminated.
Existing credit facility terminated and all guarantees/collateral under it to be released shortly.

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