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Navicure launches $108 million incremental term loan at 99.5 OID
By Sara Rosenberg
New York, Sept. 6 – Navicure launched on Thursday its fungible $108 million incremental first-lien term loan (B) due Nov. 1, 2024 with price talk of Libor plus 375 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.
Antares Capital is the lead on the deal.
Commitments are due on Sept. 13, the source said.
Proceeds will be used to finance an acquisition.
The existing first-lien term loan is sized at $433 million.
Navicure, a portfolio company of Bain Capital, is a Duluth, Ga.-based provider of SaaS-based revenue cycle management services.
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