symplr to launch $680 million first-lien term loan on Friday

By Sara Rosenberg

New York, Nov. 12 – symplr Software Inc. is scheduled to hold a lender call at 9:30 a.m. ET on Friday to launch a $680 million seven-year covenant-lite first-lien term loan, according to a market source.

The first-lien term loan has 101 soft call protection for six months and amortization of 1% per annum.

The company is also getting a $250 million privately placed second-lien term loan, the source said.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal. Goldman Sachs Bank USA, Antares Capital, Ares, Deutsche Bank Securities Inc., Golub Capital and Jefferies LLC are involved as well.

Commitments are due on Nov. 20, the source added.

Proceeds will be used to refinance existing debt and to fund the acquisition of TractManager, a Dallas-based health care-specific application suite, from Arsenal Capital Partners.

symplr, a portfolio company of Clearlake Capital Group LP and SkyKnight Capital, is a Houston-based health care governance, risk management and compliance software-as-a-service platform.

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