MedData finalizes $230 million term loan B at Libor plus 500 bps

By Sara Rosenberg

New York, July 14 – MedData Inc. firmed pricing on its $230 million term loan B (B3/B-) at Libor plus 500 basis points, the low end of the Libor plus 500 bps to 525 bps talk, according to a market source.

The term loan still has a 0.75% Libor floor, an original issue discount of 99, 101 soft call protection for six months and a leverage covenant.

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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