Clarivate completes cash tender offer for debt securities

✦ Meridian Analysis

Clarivate Plc has closed a cash tender offer for two of its senior secured notes – the 3.875 % Senior Secured Notes due 2028 and the 4.875 % Senior Notes due 2029 – that was launched on 4 November 2026 by its wholly‑owned subsidiary, Clarivate Science Holdings Corporation. The offers, which expired at 5 p.m. New York time on 10 November, allowed holders to tender up to $400 million of the 2028 series and $100 million of the 2029 series; the company exercised its right to increase the aggregate amount it could accept by 2 % of each series, ultimately agreeing to purchase $533 million in total, with proration factors of roughly 67.9 % for the 2028 notes and 45.5 % for the 2029 notes. Citigroup Global Markets acted as dealer manager and Global Bondholder Services served as the tender and information agent. All conditions were satisfied or waived before the expiration date, and settlement is scheduled for 13 November, at which point accepted notes will be redeemed together with accrued coupon payments, while non‑accepted notes will be returned to holders. What remains undisclosed are the exact redemption price per $1,000 of face value for each series and any premium or discount applied, as well as the ultimate impact on the company’s leverage ratios. Details on any ancillary financing arrangements, the full list of financial advisers beyond Citigroup, and the regulatory approvals required for the buy‑back have not been made public, leaving room for further scrutiny as the settlement date approaches.

The Meridian Weekly