Clarivate Science Holdings Corporation, a subsidiary of Clarivate Plc (NYSE: CLVT), has launched a tender offer for its 3.875% Senior Secured Notes due 2028. The tender offer, managed by Citigroup Global Markets Inc., aims to purchase up to $825 million in outstanding notes, with a cap on the aggregate principal amount purchased set at $75 million, subject to adjustment prior to the expiration date.
The notes, with a maturity date of July 1, 2028, have CUSIP numbers 18064P AC3 for 144A offerings and U1800Q AC3 for Regulation S offerings. The reference yield security for the notes is the 4.125% U.S. Treasury due June 30, 2028. The fixed spread calculation for the tender offer is 50 basis points plus the reference yield per $1,000 principal amount of notes.
The tender offer, announced on September 17, 2026, will determine the price of the notes on Monday at 2:00 p.m. and expire on Monday at 5:00 p.m. The expected settlement date for accepted tenders is Wednesday. Global Bondholder Services Corporation is acting as the tender and information agent for the offer.
The tender offer is a cash tender offer, and holders whose notes are accepted will receive the total consideration plus accrued and unpaid interest from the last interest payment date to the settlement date. Tenders may be withdrawn at any time before the expiration deadline. The offer is subject to certain conditions and is not contingent upon any minimum principal amount of notes being tendered. If proration is required, the company will round down to the nearest $1,000 principal amount to determine accepted tenders.
