Davis Polk Advises Clarivate Analytics plc on Its $1.850 Billion Refinancing
11/1/2019

Davis Polk advised Clarivate Analytics plc in connection with the refinancing of its existing credit facility and unsecured senior notes pursuant to which its indirect wholly owned subsidiary Camelot Finance S.A. issued $700 million in aggregate principal amount of 4.50% senior secured notes due 2026 in a Rule 144A/Regulation S offering and Camelot Finance and certain of its other subsidiaries entered into a $1.15 billion senior secured credit facility consisting of a $900 million term loan and a $250 million revolving credit facility. The obligations under the credit facility and the senior secured notes are guaranteed by certain of Clarivate’s subsidiaries.

Clarivate Analytics plc is a multinational company that owns and operates a collection of subscription-based services focused largely on analytics, including scientific and academic research, patent analytics, regulatory standards, trademark protection, pharmaceutical and biotechnology intelligence, domain brand protection and intellectual property management. Clarivate, a portfolio company of Onex Partners and Baring Private Equity Asia, merged with Churchill Capital Corp, a publicly traded investment vehicle, in May 2019.

The Davis Polk capital markets team included partner Joseph A. Hall and associates Cameron C. Lewis and Dan Gibbons. The Davis Polk finance team included partners Sartaj Gill and Nick Benham, counsel Andrei Takhteyev and associate Jack Orford. Counsel John Taylor advised on European Union laws. The U.S. tax team consisted of partner Michael Mollerus and partner Jonathan Cooklin provided English tax advice. Members of the Davis Polk team are based in the New York and London offices.