Waystar Holding Corp. announced on December 30, 2024, an amendment to its first lien credit agreement with its lenders. This amendment reprices Waystar's term loan and increases its revolving credit facility, enhancing financial flexibility.
Under the amended agreement, the term loan's interest rate was reduced to adjusted SOFR +2.25%, down from the previous adjusted SOFR +2.75%. Additionally, the revolving credit facility borrowing capacity increased to $400 million from $342.5 million, with its interest rate lowered to adjusted SOFR +1.75% from adjusted SOFR +2.25%.
These changes are expected to reduce Waystar's borrowing costs and generate interest expense savings for the company. The amendments follow Waystar's successful initial public offering in June 2024, which saw net proceeds used to reduce debt, and an earlier loan repricing on June 27, 2024.
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