Equian launches $315 million incremental term loan B at 99.75 OID

By Sara Rosenberg

New York, Feb. 5 – Equian LLC launched on Monday its fungible $315 million incremental covenant-light term loan B due May 19, 2024 with original issue discount talk of 99.75, according to a market source.

Pricing on the loan is Libor plus 375 basis points with a 1% Libor floor, the source said.

The incremental loan has 101 soft call protection for six months and amortization of 1% per annum.

Morgan Stanley Senior Funding Inc., Barclays and Deutsche Bank Securities Inc. are the joint lead arrangers and bookrunners on the deal.

Commitments are due on Feb. 13, the source added.

Proceeds will be used to fund the acquisition of OmniClaim and pay related fees and expenses.

Equian is an Indianapolis-based payment integrity platform.

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