Waystar launches $620 million term loan B at Libor plus 425 bps

By Sara Rosenberg

New York, Sept. 8 – Waystar (Navicure) held a lender call at 2 p.m. ET on Tuesday to launch a non-fungible $620 million incremental first-lien term loan B due October 2026 that is talked at Libor plus 425 basis points with a 0.75% Libor floor and an original issue discount of 98.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Commitments are due at 5 p.m. ET on Sept. 16, the source added.

Proceeds will be used to fund the acquisition of eSolutions, a revenue cycle technology company, from Francisco Partners.

Closing is expected this year, subject to customary conditions and approvals.

Waystar is a provider of health care payments software. The company is backed by EQT, Canada Pension Plan Investment Board and Bain Capital.

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