Waystar Holding Corp. Enters Tenth Amendment to Credit Agreement

Waystar Holding Corp. recently announced that certain subsidiaries of the company have entered into the Tenth Amendment to the First Lien Credit Agreement. The agreement, dated as of October 22, 2019, has seen multiple amendments over time, leading to the most recent amendment referred to as Amendment No. 10.

Under the terms of Amendment No. 10, Waystar Holding Corp.’s $1,166,772,750 aggregate outstanding principal amount of term loans were refinanced with replacement term loans bearing reduced interest rates. The refinanced Term Loans offer Borrower the choice between Adjusted Term SOFR or the Alternate Base Rate, each with corresponding reduced applicable rates.

Additionally, the maximum borrowing capacity under the revolving credit facility was increased from $342.5 million to $400.0 million. The interest rates under the Revolving Credit Facility were also decreased and are subject to adjustments based on certain leverage ratios specified in the Credit Agreement.

One provision outlined in the amendment is that if a Repricing Transaction is effected by the Borrower regarding the Term Loans within six months of the closing date, there will be a standard 1.00% premium on the principal amount of Term Loans subject to that transaction.

Except for the changes specified in Amendment No. 10, the Term Loans and the Revolving Credit Facility maintain similar terms related to maturity date, guarantees, collateral, mandatory prepayments, and covenants as in the Existing Credit Agreement. Notably, there was no alteration to the company’s outstanding indebtedness in connection with this amendment.

The above summary of Amendment No. 10 is a brief overview, and the complete details can be found in the attached Exhibit 10.1, which is incorporated by reference into this report.

Incorporating the information from Item 1.01, the details regarding the creation of a direct financial obligation or obligation under an off-balance sheet arrangement can be found in Item 2.03 of this report.

The company has also provided the necessary financial statements and exhibits related to this amendment, as described in Item 9.01 of the report.

Waystar Holding Corp., as of December 30, 2024, duly authorized the signing of this report, as confirmed by Matthew R. A. Heiman, the Chief Legal and Administrative Officer.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Waystar’s 8K filing here.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.