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Waystar finalizes $618 million term loan at par issue price
By Sara Rosenberg
New York, Feb. 11 – Waystar set the issue price on its $618 million first-lien term loan B at par, the tight end of the 99.75 to par talk, according to a market source.
Pricing on the term loan is Libor plus 400 basis points with a 0% Libor floor.
The term loan has 101 soft call protection for six months.
J.P. Morgan Securities LLC is the lead bank on the deal.
Proceeds will be used to reprice an existing incremental term loan down from Libor plus 400 bps with a 0.75% Libor floor and make it fungible with an existing $918 million term loan that is already priced at Libor plus 400 bps with a 0% Libor floor to create one $1.536 billion term loan tranche.
Waystar is a provider of health care payments software.
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