MultiPlan seeks $315 million term loan, amendment to current facility

By Sara Rosenberg

New York, Dec. 11 - MultiPlan Inc. is in market with a $315 million incremental term loan and an amendment to its existing credit facility, according to a market source.

Goldman Sachs, Bank of America and Credit Suisse are the lead banks on the deal that was launched with a conference call on Thursday, with Goldman the left lead.

Guidance on the term loan is Libor plus 400 basis points to 425 bps with a 2.25% Libor floor and an original issue discount of 98, the source said.

Proceeds from the incremental term loan will be used to refinance term loan debt at Viant Inc. in connection with the acquisition of Viant by MultiPlan.

The proposed amendment to MultiPlan's existing credit facility would permit the acquisition to take place.

As part of the amendment, pricing on the existing credit facility would be increased to Libor plus 325 bps from Libor plus 250 bps and lenders would get a 25 bps amendment fee.

The acquisition is expected to close before the end of the year, subject to satisfaction of closing conditions including customary regulatory approvals.

MultiPlan is a New York-based provider of health care cost management services. Viant is a Naperville, Ill.-based provider of health care payment services.

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