Clarivate Analytics Completes $700M Notes Offering and Enters into $1.15B Credit Facility

Clarivate Analytics Completes $700M Notes Offering and Enters into $1.15B Credit Facility

  

Fried Frank acted as counsel to Citigroup Global Markets Inc., as representative of the initial purchasers, in a US$700 million aggregate principal amount offering of 4.50% senior secured notes due 2026 by Camelot Finance SA, an indirect wholly owned subsidiary of Clarivate Analytics (Clarivate), in connection with a debt refinancing transaction, including the redemption of Clarivate's existing 7.875% senior notes due 2024.
 
Concurrently with the notes offering described above, Fried Frank also acted as counsel to Bank of America, N.A., as administrative agent and lead arranger, in the refinancing of Clarivate's existing credit facility and the entrance into a new senior credit facility, providing for a US$900 million aggregate principal amount term loan and a US$250 million revolving line of credit, available to fund working capital and other general corporate needs.
 
Clarivate is a leading global information services and analytics company serving the scientific research, intellectual property, and life sciences end-markets.
 
The Fried Frank team was led by corporate partner Daniel J. Bursky and included corporate partners Joshua Thomas Coleman, Mark S. Hayek, Meredith L. Mackey, Adam D. Summers, Jons F. Lehmann, and Neil Caddy; tax partners Alan S. Kaden and Nick Thornton; corporate special counsel Andrew J. Klein; tax special counsel Will Gay; corporate associates Matthew E. Sadofsky, Tristan Schmidt, Graham Greenwood, Natalie Sharkey, Michael P. Stromquist, Ian L. Cohen, and Nicholas S. Millington; and tax associate Ryan L. Conley.

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