Waystar readies launch of $247 million add-on term loan for Tuesday

By Sara Rosenberg

New York, Aug. 2 – Waystar will hold a lender call at 9 a.m. ET on Tuesday to launch a fungible $247 million add-on term loan, according to a market source.

JPMorgan Chase Bank, Deutsche Bank Securities Inc. and Barclays are the leads on the deal.

Pricing on the add-on term loan is Libor plus 400 basis points with a 0% Libor floor, in line with existing term loan pricing.

The add-on term loan is talked with an original issue discount of 98.78 to 99, the source said.

Commitments are due at 5 p.m. ET on Aug. 11.

Proceeds will be used to fund the acquisition of Patientco, a provider of omnichannel patient payments, communications and engagement software.

Closing is subject to regulatory approval and customary closing conditions.

Waystar, backed by EQT, Canada Pension Plan Investment Board and Bain Capital, is a provider of healthcare payments software.

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