Clarivate sets pricing for tender offer on 2028 senior secured notes

Clarivate Plc (NYSE: CLVT), through its wholly-owned subsidiary Clarivate Science Holdings Corporation, announced pricing terms for its cash tender offer to purchase a portion of its outstanding 3.875% Senior Secured Notes due 2028.

The total consideration is $975.15 per $1,000 principal amount of notes validly tendered and accepted. The reference yield was set at 4.864%, determined at 2:00 p.m. New York time on Sept. 23, 2026, based on the bid-side price of the 4.125% U.S. Treasury due June 30, 2028, plus a fixed spread of 50 basis points. Holders whose notes are accepted will also receive accrued and unpaid interest through, but excluding, the settlement date.

The offer is subject to a $75,000,000 cap on the aggregate principal amount of notes purchased. The total outstanding principal amount of the notes is $825,000,000. The company may eliminate, increase, or decrease the tender cap prior to the expiration deadline. It may also increase the amount accepted by up to 2% of outstanding notes without amending or extending the offer.

The offer expired at 5:00 p.m. New York time on Sept. 23, 2026. The settlement date is expected to be Sept. 25, 2026. Citigroup Global Markets Inc. is serving as dealer manager, and Global Bondholder Services Corporation is acting as tender and information agent for the offer.

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