RxBenefits launches $150 million term loan at SOFR plus 525 bps

By Sara Rosenberg

New York, June 1 – RxBenefits Inc. (RXB Holdings Inc.) launched on Thursday its non-fungible $150 million add-on first-lien term loan due Dec. 18, 2027 (B3/B) with price talk of SOFR plus 525 basis points with a 0.75% floor and an original issue discount of 97.5, according to a market source.

The add-on term loan has 101 soft call protection for six months and no credit spread adjustment, the source said.

Barclays, Deutsche Bank Securities Inc. and Goldman Sachs Bank USA are the bookrunners on the deal. Barclays is the administrative agent.

Commitments are due at 5 p.m. ET on June 14.

Proceeds will be used with balance sheet cash to repay an existing second-lien term loan.

Advent International and Great Hill Partners are the sponsors.

RxBenefits is a Birmingham, Ala.-based pharmacy benefits optimizer for the employee benefit industry.

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