Eclipsys gets $125 million revolver

By Sara Rosenberg

New York, Aug. 28 - Eclipsys Corp. closed on a new $125 million three-year senior secured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Thursday.

Wachovia is the administrative agent on the deal that was completed on Aug. 26.

Initial pricing on the revolver is Libor plus 175 basis points. Pricing can range from Libor plus 150 bps to 200 bps based on leverage.

There is a $25 million accordion feature.

Borrowings may be used to refinance debt, for potential acquisitions and capital investments, and for working capital and other general corporate purposes.

At closing, the company borrowed $51.1 million under the revolver to repay its existing bank debt and transaction costs.

Eclipsys is an Atlanta-based provider of advanced integrated clinical, revenue cycle and access management software, clinical content and professional services to health care organizations.

© 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.