MedData launches $230 million term loan B at Libor plus 500-525 bps

By Sara Rosenberg

New York, June 17 – MedData Inc. launched on Thursday its $230 million term loan B (B-) with price talk of Libor plus 500 basis points to 525 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months and a leverage covenant, the source said.

KeyBanc Capital Markets is the lead on the deal.

Proceeds will be used to fund an acquisition and to refinance existing debt.

MedData is a Spring, Tex.-based provider of medical revenue cycle management services.

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