Clarivate launches cash tender offers to repurchase up to $500 million of 2028 and 2029 notes
Clarivate Plc announced that its subsidiary, Clarivate Science Holdings Corporation, has started cash tender offers to buy back its 3.875% senior secured notes due 2028 and its 4.875% senior notes due 2029. The offers are capped at $500 million in total, with a $400 million limit for the 2028 series and a $100 million limit for the 2029 series. The tender period ends at 5:00 p.m. New York time on November 10, 2026, and settlement is expected on the second business day after that date. Citigroup Global Markets acts as the dealer manager for the offers.
Why it matters
The repurchase reduces Clarivate’s outstanding debt and may improve its balance‑sheet metrics, which could affect credit ratings and investor perception. Holders who tender their notes will receive the specified cash consideration, including $928.75 per $1,000 principal for the 2029 notes, and accrued interest up to the settlement date.
Key facts
- 1The cash tender offers target the 3.875% senior secured notes due July 1, 2028 and the 4.875% senior notes due July 1, 2029. prnewswire.com
- 2The total tender cap is $500,000,000, with a $400,000,000 cap for the 2028 notes and a $100,000,000 cap for the 2029 notes. prnewswire.com
- 3The offers expire at 5:00 p.m. New York time on November 10, 2026, unless the company extends the deadline. sec.gov
- 4The settlement date is expected to be November 13, 2026, the second business day after expiration. prnewswire.com
- 5The cash consideration for the 2029 notes is $928.75 per $1,000 principal amount tendered. tradingview.com
- 6Citigroup Global Markets Inc. is serving as the dealer manager for the tender offers. stocktitan.net
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.