Waystar changes $100 million add-on term loan discount to 99.25

By Sara Rosenberg

New York, Nov. 21 – Waystar revised the original issue discount on its fungible $100 million add-on covenant-lite term loan B due September 2026 to 99.25 from 99, according to a market source.

Pricing on the add-on term loan is Libor plus 400 basis points with a 0% Libor floor.

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

Commitments were still scheduled to be due at 5 p.m. ET on Thursday.

Proceeds will be used to fund an acquisition.

Waystar, which was formed in 2017 through the combination of Navicure and ZirMed, is a provider of revenue cycle technology.

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