Mediware cuts spread on $320 million term loan B to Libor plus 375 bps

By Sara Rosenberg

New York, Feb. 3 – Mediware Information Systems Inc. trimmed pricing on its $320 million seven-year covenant-light first-lien term loan B (B2/B-) to Libor plus 375 basis points from talk of Libor plus 400 bps to 425 bps, according to a market source.

Also, the original issue discount on the first-lien term loan was revised to 99.75 from 99.5, the source said.

The term loan still has a 1% Libor floor and 101 soft call protection for six months.

Bank of America Merrill Lynch, Jefferies Finance LLC, SunTrust Robinson Humphrey Inc., Nomura and RBC Capital Markets are the leads on the deal.

The company’s $495 million credit facility also includes a $60 million five-year revolver (B2/B-) and a $115 million second-lien term loan (CCC).

Proceeds will be used to help fund the buyout of the company by TPG Capital from Thoma Bravo.

Closing is expected this quarter, subject to customary conditions.

Mediware is a Lenexa, Kan.-based provider of software for health care and human services providers.

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