Imprivata launches $1.1 billion term loan B at SOFR plus 350 bps

By Sara Rosenberg

New York, March 25 – Imprivata was scheduled to hold a lender call at 11 a.m. ET on Monday to launch a $1.102 billion term loan B due December 2027 that is talked at SOFR plus 350 basis points with a 0.5% floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, no CSA and amortization of 1% per annum, the source said.

Goldman Sachs Bank USA is the left lead arranger on the deal.

Commitments are due at 9:30 a.m. ET on Thursday, the source added.

Proceeds will be used to combine into one tranche and reprice the company’s existing $725 million term loan B and $377 million incremental first-lien term loan B.

Imprivata is a Waltham, Mass.-based digital identity solutions provider in health care.

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