symplr launches $65 million incremental term loan at par issue price

By Sara Rosenberg

New York, Jan. 25 – symplr Software Inc. held a lender call at 2 p.m. ET on Monday to launch a fungible $65 million incremental covenant-lite first-lien term loan (B2/B) due December 2027 with the issue price talked at par, according to a market source.

Pricing on the incremental term loan is Libor plus 450 basis points with a 0.75% Libor floor, in line with existing term loan pricing.

The incremental term loan has 101 soft call protection until June 2021 and amortization of 1% per annum.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used with a $15 million privately placed second-lien term loan to fund the acquisition of Phynd Technologies.

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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