Mediware ups term B to $310 million, sets spread at Libor plus 475 bps

By Sara Rosenberg

New York, Sept. 21 – Mediware Information Systems Inc. upsized its seven-year term loan B to $310 million from $300 million and firmed pricing at Libor plus 475 basis points, the low end of the Libor plus 475 bps to 500 bps talk, according to a market source.

As before, the term loan B has a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

The company’s now $340 million credit facility, up from $330 million, also provides for a $30 million revolver.

Included in the facility is a leverage covenant.

Commitments are due at noon ET on Thursday, the source said.

SunTrust Robinson Humphrey Inc. is the lead bank on the deal.

Proceeds will be used to refinance existing debt and fund a distribution to shareholders.

Mediware is a Lenexa, Kan.-based provider of specialized health care IT solutions for automating and managing complex health care processes.

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