Clarivate launches tender offer for $75M of its 2028 senior notes

Clarivate Plc (NYSE: CLVT), through its wholly-owned subsidiary Clarivate Science Holdings Corporation, has commenced a cash tender offer to purchase up to $75 million in aggregate principal amount of its 3.875% Senior Secured Notes due July 1, 2028, according to a press release.

The notes have $825 million in aggregate principal amount outstanding. The total consideration per $1,000 principal amount will be determined by a fixed spread of 50 basis points over the yield of the 4.125% U.S. Treasury note due June 30, 2028, as quoted on Bloomberg at 2:00 p.m. New York City time on September 23, 2026, which is also the scheduled Price Determination Date.

The offer is set to expire at 5:00 p.m. New York City time on September 23, 2026. Holders may withdraw tendered notes at any time up to that deadline. The expected settlement date is September 25, 2026.

Holders whose notes are accepted will receive the total consideration plus accrued and unpaid interest up to, but excluding, the settlement date. The company retains the right to eliminate, increase, or decrease the $75 million tender cap prior to the expiration date.

The offer is not contingent on any minimum principal amount being tendered. Citigroup Global Markets Inc. is serving as dealer manager, and Global Bondholder Services Corporation is acting as tender and information agent.

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