symplr lifts first-lien term loan to $80 million, cancels second-lien

By Sara Rosenberg

New York, Jan. 28 – symplr Software Inc. upsized its fungible incremental covenant-lite first-lien term loan (B2/B-) due December 2027 to $80 million from $65 million and terminated plans for a $15 million privately placed second-lien term loan, 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 still has a par issue price, 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.

Recommitments were scheduled to be due at 10 a.m. ET on Thursday, the source added.

Proceeds will be used 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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.