Loan of the Week Snapshot #126

👓At a Glance

Borrower: Veradigm, Inc.

Lender: Wilmington Savings Fund Society FSB (Admin. & Collateral Agent)

Deal Size: $100.0 million

Structure: Term loan and delayed draw term loan

Rate: Variable - SOFR (subject to 2.00% floor) plus 7.50% payable in cash or in kind

Term: ~60 months

Use of Proceeds: Purchase (if required) of convertible senior notes and general corporate purposes

Source: SEC 8-K

📷Borrower Snapshot

Sector: Healthcare

Subsector: Healthcare Technology

Ownership: Public

Commercial Stage: Commercial Revenue; EBITDA +

Business Overview: Veradigm is a healthcare technology and data solutions company based in Chicago, serving providers, payers, and life sciences organizations. Its product suite includes electronic health records, practice management tools, revenue cycle services, patient engagement platforms, and real-world data analytics. Through its interoperable Veradigm Network, the company connects key stakeholders to enable more efficient clinical workflows, improve outcomes, and support evidence generation for life sciences. Veradigm’s solutions aim to reduce costs and drive value across the healthcare ecosystem.

⚙️Structure & Terms

Source: SEC 8-K

Commitment: $100.0 million

• $75.0 million term loan funded at close
• $25.0 million delayed draw term loan available through December 2026

Maturity: June 18, 2030

Rate: Variable - SOFR (subject to 2.00% floor) plus 7.50% payable in cash or in kind

• PIK option available through June 2027

Commitment Fee: 2% structured into original issue discount

Yield Maintenance: Yield protection in year 1

Prepayment Fee: 3% year 1, 1% year 2, 0% thereafter

Covenants:

• First Lien Leverage Ratio
  • Max ratio <= 3.0:1.0
• Liquidity
  • Min. liquidity of $25.0 million

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