Wellful launches amendment to shift $569 million term loan B to SOFR

By Sara Rosenberg

New York, March 6 – Wellful Inc. (KNS Midco Corp.) launched a negative consent amendment to its $569 million term loan B due April 2027 to transition to SOFR from Libor, according to a market source.

Under the amendment, pricing on the term loan would be SOFR+CSA plus 625 basis points, versus Libor plus 625 bps.

The term loan would get ARRC recommended fallback CSA of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Deutsche Bank Securities Inc. is the lead on the deal.

Negative consent for the amendment is required by 5 p.m. ET on March 13, the source added.

Wellful is a health and wellness company.

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