09:51 AM EST, 12/24/2024 (MT Newswires) -- MultiPlan ( MPLN ) shares gained more than 30% in early trading Tuesday after the company announced a refinancing to extend its debt maturities.

The company said the maturity of an existing $350 million revolving credit line was extended from Aug. 24, 2026, to Dec. 31, 2029.

An existing term-loan that was due to mature in 2028 was exchanged for two separate loans, the first amounting to up to $325 million and the other of up to $1.14 billion, with both expiring in 2030, the company said.

Separately, MultiPlan ( MPLN ) said that certain notes issued by MPH Acquisition Holdings and due in 2028 were exchanged for new debt that matures in 2030.

MultiPlan ( MPLN ) said the refinancing plan, aimed at reorganizing its capital structure, was supported by nearly 78% of lenders of the company's existing funded debt.