Waystar Enhances Financial Flexibility with Term Loan Repricing
Waystar (Nasdaq: WAY), a healthcare payment software provider, has successfully repriced its first lien term loan due October 2029. The company secured a 25-basis-point reduction in interest rate to adjusted SOFR +2.00%. Additionally, Waystar will add $250 million of incremental term loans under the same terms to help fund the pending Iodine Software acquisition.
This marks Waystar's third successful repricing since its June 2024 IPO, resulting in a total reduction of 211 basis points in borrowing costs. The company's debt rating and stable outlook have been reaffirmed by major rating agencies S&P, Moody's, and Fitch.
Waystar (Nasdaq: WAY), fornitore di software per i pagamenti sanitari, ha rinegoziato con successo il suo primo term loan senior in scadenza nell’ottobre 2029. L’azienda ha ottenuto una riduzione di 25 punti base sul tasso, che scende a adjusted SOFR +2,00%. Inoltre Waystar emetterà 250 milioni di dollari di term loan aggiuntivi alle stesse condizioni per finanziare l’acquisizione in corso di Iodine Software.
Si tratta del terzo repricing riuscito dall’IPO di giugno 2024, con una riduzione complessiva dei costi di indebitamento pari a 211 punti base. Le agenzie di rating S&P, Moody’s e Fitch hanno confermato il rating dell’azienda e il suo outlook stabile.
Waystar (Nasdaq: WAY), proveedor de software de pagos sanitarios, ha refinanciado con éxito su préstamo de primer grado con vencimiento en octubre de 2029. La compañía logró una reducción de 25 puntos básicos en el tipo de interés, que queda en adjusted SOFR +2,00%. Además, Waystar añadirá 250 millones de dólares de préstamos a plazo adicionales en las mismas condiciones para ayudar a financiar la adquisición pendiente de Iodine Software.
Este es el tercer repricing exitoso desde su salida a bolsa en junio de 2024, acumulando una reducción total de 211 puntos básicos en el coste de la deuda. Las agencias de calificación S&P, Moody’s y Fitch han reafirmado la calificación de la compañía y su perspectiva estable.
Waystar (Nasdaq: WAY)는 의료 결제 소프트웨어 제공업체로서 2029년 10월 만기인 선순위 대출의 금리 재조정을 성공적으로 마무리했습니다. 회사는 금리를 25 베이시스 포인트 인하하여 adjusted SOFR +2.00%로 낮췄습니다. 또한 Waystar는 진행 중인 Iodine Software 인수를 지원하기 위해 동일한 조건으로 $250 million (2억5천만 달러)의 추가 기간부 대출을 도입할 예정입니다.
이번 조정은 2024년 6월 IPO 이후 Waystar의 세 번째 성공적인 재금리조정으로, 총 211 베이시스 포인트의 차입비용 절감을 가져왔습니다. 주요 신용평가사인 S&P, Moody’s, Fitch는 회사의 신용등급과 안정적 전망을 재확인했습니다.
Waystar (Nasdaq: WAY), fournisseur de logiciels de paiement pour le secteur de la santé, a renégocié avec succès son prêt principal à terme arrivant à échéance en octobre 2029. La société a obtenu une réduction de 25 points de base du taux, qui passe à adjusted SOFR +2,00 %. De plus, Waystar ajoutera 250 millions de dollars de prêts à terme supplémentaires aux mêmes conditions pour financer l’acquisition en cours d’Iodine Software.
Il s’agit du troisième repricing réussi depuis son introduction en bourse en juin 2024, entraînant une réduction totale des coûts d’emprunt de 211 points de base. Les agences de notation S&P, Moody’s et Fitch ont confirmé la note de la société et son outlook stable.
Waystar (Nasdaq: WAY), ein Anbieter von Zahlungssoftware für das Gesundheitswesen, hat die Neuverzinsung seines vorrangigen Term Loans mit Fälligkeit im Oktober 2029 erfolgreich abgeschlossen. Das Unternehmen erzielte eine Reduzierung um 25 Basispunkte, sodass der Zinssatz bei adjusted SOFR +2,00 % liegt. Zusätzlich wird Waystar unter denselben Konditionen 250 Mio. USD an zusätzlichen Term Loans aufnehmen, um die geplante Übernahme von Iodine Software zu finanzieren.
Es ist das dritte erfolgreiche Repricing seit dem Börsengang im Juni 2024, wodurch sich die Finanzierungskosten insgesamt um 211 Basispunkte verringert haben. Die Ratingagenturen S&P, Moody’s und Fitch haben das Rating und den stabilen Ausblick des Unternehmens bestätigt.
- Secured 25-basis-point reduction in interest rate, improving financial flexibility
- Successfully reduced borrowing costs by 211 basis points since IPO
- Strong lender demand demonstrates market confidence
- Debt ratings reaffirmed by all three major rating agencies
- Secured additional $250 million in term loans for strategic acquisition
- Increased debt load with additional $250 million term loans
- Continued reliance on debt financing
Strong cash flow, ability to de-lever, and high lender demand drive favorable repricing terms
The repricing underscores lender conviction in Waystar's balance sheet and strong cash flow generation. Waystar has now successfully repriced the first lien term loan three times and reduced borrowing costs by 211 basis points since its initial public offering in June 2024. S&P, Moody's, and Fitch have reaffirmed Waystar's debt rating and stable outlook in recent weeks.
"With strong demand from the lender community, Waystar secured even more favorable financing terms that position us to accelerate growth, while strengthening our competitive advantage," said Matt Hawkins, Chief Executive Officer of Waystar. "We have a proven track record of innovation and delivering results. We are focused on delighting our clients through market-leading innovation, driving profitability, and delivering sustained long-term value for our shareholders."
About Waystar
Waystar's mission-critical software is purpose-built to simplify healthcare payments so providers can prioritize patient care and optimize their financial performance. Waystar serves approximately 30,000 clients, representing over 1 million distinct providers, including 16 of 20 institutions on the
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect our current views with respect to, among other things, statements regarding Waystar's expectations relating to the closing of the incremental term loans and the Iodine acquisition; future operating results and financial position; the performance of our new product offerings; our industry and market opportunities, business strategy, goals, and expectations concerning our market position, future operations, margins and profitability, capital expenditures, liquidity, and capital resources and other financial and operating information. Forward-looking statements include all statements that are not historical facts. These statements may include words such as "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "seek," "foreseeable," "outlook," the negative version of these words or similar terms and phrases to identify forward-looking statements in this press release.
The forward-looking statements contained in this press release are based on management's current expectations and are not guarantees of future performance. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs, and projections will result or be achieved. The following factors are among those that may cause actual results to differ materially from the forward-looking statements: our ability to close the incremental term loans and Iodine acquisition; our operation in a highly competitive industry; our ability to retain our existing clients and attract new clients; our ability to successfully execute on our business strategies in order to grow; our ability to accurately assess the risks related to acquisitions and successfully integrate acquired businesses (including the previously announced acquisition of Iodine Software); our ability to establish and maintain strategic relationships; the growth and success of our clients and overall healthcare transaction volumes; consolidation in the healthcare industry; our selling cycle of variable length to secure new client agreements; our implementation cycle that is dependent on our clients' timing and resources; our dependence on our senior management team and certain key employees, and our ability to attract and retain highly skilled employees; the accuracy of the estimates and assumptions we use to determine the size of our total addressable market; our ability to develop and market new solutions, or enhance our existing solutions, to respond to technological changes, or evolving industry standards; the interoperability, connectivity, and integration of our solutions with our clients' and their vendors' networks and infrastructures; the performance and reliability of internet, mobile, and other infrastructure; the consequences if we cannot obtain, process, use, disclose, or distribute the highly regulated data we require to provide our solutions; our reliance on certain third-party vendors and providers; any errors or malfunctions in our products and solutions; failure by our clients to obtain proper permissions or provide us with accurate and appropriate information; the potential for embezzlement, identity theft, or other similar illegal behavior by our employees or vendors, and a failure of our employees or vendors to observe quality standards or adhere to environmental, social, and governance standards; our compliance with the applicable rules of the National Automated Clearing House Association and the applicable requirements of card networks; increases in card network fees and other changes to fee arrangements; the effect of payer and provider conduct which we cannot control; privacy concerns and security breaches or incidents relating to our platform; the complex and evolving laws and regulations regarding privacy, data protection, and cybersecurity; our ability to adequately protect and enforce our intellectual property rights; our ability to use or license data and integrate third-party technologies; our use of "open source" software; legal proceedings initiated by third parties alleging that we are infringing or otherwise violating their intellectual property rights; claims that our employees, consultants, or independent contractors have wrongfully used or disclosed confidential information of third parties; the heavily regulated industry in which we conduct business; the uncertain and evolving healthcare regulatory and political framework; healthcare laws and data privacy and security laws and regulations governing our processing of personal information; reduced revenues in response to changes to the healthcare regulatory landscape; legal, regulatory, and other proceedings that could result in adverse outcomes; consumer protection laws and regulations; contractual obligations requiring compliance with certain provisions of the Bank Secrecy Act and anti-money laundering laws and regulations; existing laws that regulate our ability to engage in certain marketing activities; our full compliance with website accessibility standards; any changes in our tax rates, the adoption of new tax legislation, or exposure to additional tax liabilities; limitations on our ability to use our net operating losses to offset future taxable income; losses due to asset impairment charges; restrictive covenants in the agreements governing our credit facilities; interest rate fluctuations; unavailability of additional capital on acceptable terms or at all; the impact of general macroeconomic conditions; actions of certain of our significant investors, who may have different interests than the interests of other holders of our securities; our status as an "emerging growth company" and whether the reduced disclosure requirements applicable to "emerging growth companies" will make our common stock less attractive to investors; and each of the other factors discussed under the heading of "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 18, 2025, and in other reports filed with the SEC, all of which are available on the Investor Relations page of our website at investors.waystar.com.
Any forward-looking statements made by us in this press release speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. You should not place undue reliance on our forward-looking statements. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by any applicable securities laws.
Media Contact
Kristin Lee
kristin.lee@waystar.com
Investor Contact
investors@waystar.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/waystar-enhances-financial-flexibility-with-term-loan-repricing-302528217.html
SOURCE Waystar
FAQ
What are the new terms of Waystar's (WAY) term loan repricing in August 2025?
How much additional term loan funding is Waystar (WAY) adding in this transaction?
How many times has Waystar (WAY) repriced its first lien term loan since IPO?
What is the purpose of Waystar's (WAY) additional term loan funding?
How have rating agencies responded to Waystar's (WAY) term loan repricing?
