Greenway cuts spread on $530 million term loan to Libor plus 475 bps

By Sara Rosenberg

New York, Feb. 15 – Greenway Health LLC reduced pricing on its $530 million seven-year covenant-light first-lien term loan to Libor plus 475 basis points from talk of Libor plus 500 bps to 525 bps, according to a market source.

In addition, the original issue discount on the term loan was changed to 99.5 from 99, the source said.

The term loan still has a 1% Libor floor and 101 soft call protection for six months.

The company’s $560 million credit facility (B3/B-) also includes a $30 million five-year revolver.

Jefferies Finance LLC, RBC Capital Markets and SunTrust Robinson Humphrey Inc. are the leads on the deal.

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

Proceeds will be used to refinance existing debt.

Greenway Health is a Carrollton, Ga.-based provider of clinical, financial, administrative and connectivity information solutions to physician practices.

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