Clarivate Plc (CLVT), a global leader in transformative intelligence, has completed a $500 million upsize of its term loan B credit facility.
This new tranche, maturing in 2031, carries a 3.25 percent interest margin for SOFR-based loans and involves no amortization.
The funds were used to redeem $500 million of the company's 4.50 percent senior secured notes due in 2026, initially issued by subsidiary Camelot Finance S.A. Approximately $200 million of those notes remain outstanding.
Clarivate CFO Jonathan Collins said the company capitalized on favorable credit conditions to push out most of its 2026 debt maturity. He added that with strong cash flow, the company retains capital allocation flexibility.
Monday, CLVT closed at $4.18, down 0.95%, and is trading flat in after-hours on the NYSE.
For comments and feedback: editorial@rttnews.com