Waystar to launch $618 million term loan repricing on Thursday

By Sara Rosenberg

New York, Feb. 3 – Waystar will hold a lender call at 10:30 a.m. ET on Thursday to launch a repricing of its $618 million incremental first-lien term loan B, according to a market source.

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

Price talk on the term loan is Libor plus 400 basis points with a 0% Libor floor and an original issue discount of 99.75 to par, the source said.

The term loan is talked with 101 soft call protection for six months.

The repricing will take the incremental term loan down from Libor plus 400 bps with a 0.75% Libor floor and make it fungible with an existing $918 million term loan that is already priced at Libor plus 400 bps with a 0% Libor floor to create one $1.536 billion term loan tranche.

Commitments are due at noon ET on Wednesday, the source added.

Waystar is a provider of health care payments software.

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