WellSky cuts spread on $1.13 billion term B to Libor plus 325 bps

By Sara Rosenberg

New York, March 2 – WellSky lowered pricing on its $1.125 billion seven-year first-lien term loan B (B) to Libor plus 325 basis points from Libor plus 375 bps, according to a market source.

The term loan still has a 0.75% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

BofA Securities Inc., Goldman Sachs Bank USA, Deutsche Bank Securities Inc., BMO Capital Markets, RBC Capital Markets, Nomura and TPG are the leads on the deal.

Recommitments were scheduled to be due at 5 p.m. ET on Tuesday, the source added.

Proceeds will be used to help refinance existing first-and second-lien term loans.

WellSky is an Overland Park, Kan.-based provider of healthcare enterprise software and related services.

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