MultiPlan $450 million credit facility to launch Wednesday

By Sara Rosenberg

New York, March 16 - MultiPlan Inc. is scheduled to hold a bank meeting on Wednesday to launch its proposed $450 million credit facility, according to a market source.

Goldman Sachs, Bank of America and Morgan Stanley are the lead banks on the deal.

The facility consists of a $50 million revolver and a $400 million term loan, the source said.

Proceeds will be used to help fund The Carlyle Group's leveraged buyout of MultiPlan, a New York-based independent Preferred Provider Organization network.

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