MedAssets, Inc. MDAS announced the completion of a new $750 million
senior secured credit facility. Proceeds were used to extinguish the Company's
existing $484 million Term Loan B due 2016 and $150 million revolving credit
facility due 2015, of which $90 million was outstanding, and to pay related
fees and expenses.
The new senior secured credit facility consists of: a $300 million, 7-year
Term Loan B bearing interest at LIBOR plus 2.75 percent subject to a 1.25
percent LIBOR floor; a $250 million, 5-year Term Loan A bearing interest at
LIBOR plus 2.50 percent; and, a $200 million, 5-year revolving credit facility
bearing interest at LIBOR plus 2.50 percent, of which $50 million was drawn at
closing. In addition, the Company terminated forward interest rate swaps
associated with the indebtedness that was refinanced.
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