Definitive Healthcare gets five-year term loan, revolver

By Wendy Van Sickle

Columbus, Ohio, Sept. 20 – Definitive Healthcare Holdings, LLC, an indirect subsidiary of Definitive Healthcare Corp., entered into a credit agreement on Friday with Bank of America, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The credit agreement provides for a $275 million term loan A facility and a $75 million revolver, the proceeds of which were used to repay the remaining portion of the debt outstanding under the credit agreement, dated July 16, 2019, with Owl Rock Capital Corp. as administrative agent, and to pay related fees and expenses.

The loans under the term facility and the revolver mature on Sept. 17, 2026.

The facilities are guaranteed, subject to customary exceptions, by all of Definitive Healthcare Holdings’ wholly owned domestic restricted subsidiaries and AIDH Buyer, LLC, a Delaware limited liability company, and are secured by associated collateral agreements that pledge a lien on substantially all of Definitive Healthcare Holdings’ assets.

The term facility is subject to amortization of principal, payable in quarterly installments on the last day of each fiscal quarter, commencing on Dec. 31, equal to approximately 2.5% of the principal amount in the first and second years, stepping up to 5% in the third, fourth and fifth years, with the remainder due at maturity.

The term facility and the revolver bear interest at Libor plus a margin of between 175 basis points and 225 bps depending on total net leverage ratio. The initial margin is 225 bps.

The revolver has an unused commitment fee of between 25 bps and 30 bps, also depending on total net leverage ratio.

Bank of America, NA is the administrative agent.

BofA Securities, Inc., Barclays Bank plc, Credit Suisse Loan Funding LLC, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, JPMorgan Chase Bank, NA, Morgan Stanley Senior Funding, Inc. and Stifel Bank & Trust are the joint lead arrangers and bookrunners.

Based in Framingham, Mass., Definitive Healthcare transforms data, analytics and expertise into health care commercial intelligence.

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