RevSpring to launch $400 million first-lien credit facilities Tuesday

By Sara Rosenberg

New York, Sept. 21 – RevSpring Inc. is set to hold a bank meeting at 10:30 a.m. ET on Tuesday to launch $400 million of senior secured first-lien credit facilities, according to a market source.

Jefferies LLC, Madison Capital and RBC Capital Markets are the lead arrangers on the deal.

The first-lien facilities consist of a $35 million five-year revolver and a $365 million seven-year first-lien term loan, the source said.

The company is also getting a $120 million eight-year senior secured second-lien term loan that has been privately placed.

Included in the first-lien term loan is 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Proceeds will be used to fund the acquisition of Apex Revenue Technologies and refinance existing indebtedness.

Closing is expected in the fourth quarter after the receipt of regulatory approvals.

RevSpring, a GTCR portfolio company, is a Livonia, Mich.-based provider of technology-driven multi-channel communication, workflow, payment and analytics solutions for clients in the health care and financial services verticals. Apex Revenue is a St. Paul, Minn.-based provider of health care technology solutions.

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