MultiPlan completes exchange offers with >99% participation, extends debt maturities

Claritev Corp

Over 99% participation across all four debt classes: 99.42% secured notes, 99.46% unsecured notes, 99.97% convertible notes, 99.38% term loans.
Approximately $4.3B aggregate principal tendered; settlement expected January 30, 2025.
Existing debt reduced to minimal amounts: $6M secured notes, $5.3M unsecured, $0.4M convertible, $7.9M term loans.
Proposed amendments eliminate substantially all restrictive covenants and release collateral upon settlement.
New debt includes first-out term loans and second-out notes maturing 2030/2031 with cash and PIK interest components.

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