Clarivate Launches Cash Tender Offer for Senior Secured Notes

By Bobby Samwell • Thursday, September 17 10:50 • Permanent Link

Clarivate has launched a cash tender offer for its 3.875% senior secured notes due 2028, targeting up to $75 million of the $825 million outstanding.

The company set the fixed spread at 50 basis points over the reference security, a 4.125% U.S. Treasury due June 30, 2028. The notes were issued by Clarivate Science Holdings Corporation and mature on July 1, 2028.

If fully taken up, the offer would reduce the outstanding principal by 9.1% from the current $825 million balance. The company said it may adjust the $75 million cap before expiration.

The price for each $1,000 principal amount will be determined on September 23, 2026, using the reference yield at 2:00 p.m. New York time. The offer is scheduled to expire at 5:00 p.m. that same day, with settlement expected on September 25, 2026.

Holders who tender accepted notes will also receive accrued and unpaid interest through the settlement date. As a result of these announcements, the company's shares have moved 0.8% on the market, and are now trading at a price of $1.885. For the full picture, make sure to review CLARIVATE PLC's 8-K report.

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