MultiPlan $1.05 billion notes offering and $1.775 billion credit facility
We advised the representative of the initial purchasers in connection with a Rule 144A / Regulation S offering by MPH Acquisition Holdings LLC, a wholly-owned subsidiary of MultiPlan Corporation, of $1.05 billion aggregate principal amount of its 5.500% senior secured notes due 2028. We simultaneously advised the joint lead arrangers and joint bookrunners in connection with a new $1.775 billion senior secured credit facility, which consists of a $1.325 billion term loan and a $450 million revolving credit.
Founded in 1980, MultiPlan is a leading value-added provider of data analytics and technology-enabled end-to-end cost management, payment and revenue integrity solutions to the U.S. healthcare industry.
The Davis Polk capital markets team included partner Michael Kaplan, counsel Jake Tyshow and associates Alaael-Deen Shilleh and Aaron Shubert. The finance team included partner Monica Holland and associate Jason Palios. Associate Allison T. Chin provided intellectual property and technology advice. Partners Michael Farber and Patrick E. Sigmon and associate William Liang provided tax advice. All members of the Davis Polk team are based in the New York office.