Waystar announced on August 12, 2025, the repricing of its first lien term loan due October 2029, securing more favorable terms. The interest rate on the term loan was reduced to adjusted SOFR +2.00%, a 25-basis-point reduction from prior terms.
The company will also add $250 million of incremental term loans to the facility under the same terms, which is subject to the closing of the previously announced Iodine Software acquisition. This additional capital will help fund a portion of the transformational acquisition.
This marks the third successful repricing of the first lien term loan since Waystar's initial public offering in June 2024, cumulatively reducing borrowing costs by 211 basis points. S&P, Moody's, and Fitch have reaffirmed Waystar's debt rating and stable outlook, underscoring lender confidence in the company's balance sheet and cash flow generation.
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