Connect with us

Technology

Waystar announces term loan repricing and credit rating upgrades from Fitch, Moody’s, and S&P Global

Published

2 years ago

on

Reduces Waystar’s cost of capital and enhances its ability to allocate free cash flow towards growth initiatives

LEHI, Utah and LOUISVILLE, Ky., June 27, 2024 /PRNewswire/ — Waystar Holding Corp. (Nasdaq: WAY), a provider of leading healthcare payment software, today announced that it has entered into an amendment to its first lien credit agreement (the “amended credit agreement”) with its lenders to reprice term loans. Under the terms of the amended credit agreement, the term loan borrowings will now carry a reduced interest rate of adjusted SOFR +2.75%, compared to the previous interest rate of adjusted SOFR +4.00%. The amended credit agreement is expected to reduce Waystar’s cost of borrowing and allow for interest expense savings.

This action follows Waystar’s initial public offering on June 7, 2024, with the net proceeds used to reduce debt. Following the offering, Fitch Ratings upgraded Waystar’s long-term issuer default rating to ‘BB’ from ‘B’ with a positive outlook. Moody’s Ratings upgraded Waystar’s senior secured rating to ‘B1’ from ‘B3’ with a stable outlook, and S&P Global Ratings upgraded Waystar’s issuer credit rating to ‘B+’ from ‘B-‘ with a stable outlook. In announcing these upgrades, the rating agencies cited significant deleveraging, strong operating performance, continued growth momentum, and consistent free cash flow generation.

“We are pleased to be repricing at a more favorable rate, reflecting continued momentum following our initial public offering,” said Matt Hawkins, Chief Executive Officer of Waystar. “We believe that the rating upgrades from Fitch, Moody’s, and S&P underscore our ongoing commitment to strengthening our balance sheet and our strong growth outlook. Looking ahead, we expect our durable recurring revenue model, attractive margin profile, and robust free cash flow generation will enable us to prioritize continued deleveraging while investing in our platform for growth.”

Additional information about the terms of the amended credit agreement is set forth in a Current Report on Form 8-K filed by Waystar with the Securities and Exchange Commission on June 27, 2024, which is available on the investor relations page of Waystar’s website at investors.waystar.com.

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 18 of 22 institutions on the U.S. News Best Hospitals list. Waystar’s enterprise-grade platform annually processes over 5 billion healthcare payment transactions, including over $1.2 trillion in annual gross claims and spanning approximately 50% of U.S. patients. Waystar strives to transform healthcare payments so providers can focus on what matters most: their patients and communities. Discover the way forward at waystar.com.

Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect management’s current views with respect to, among other things, Waystar’s business strategy, goals, and expectations concerning Waystar’s future operations and performance, borrowing costs, margins, profitability, liquidity, capital allocation, leverage, 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. Waystar’s expectations, beliefs, and projections are expressed in good faith, and Waystar believes 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: Waystar’s operation in a highly competitive industry; Waystar’s ability to retain its existing clients and attract new clients; Waystar’s ability to successfully execute on its business strategies in order to grow; Waystar’s ability to accurately assess the risks related to acquisitions and successfully integrate acquired businesses; Waystar’s ability to establish and maintain strategic relationships; the growth and success of Waystar’s clients and overall healthcare transaction volumes; consolidation in the healthcare industry; Waystar’s selling cycle of variable length to secure new client agreements; Waystar’s implementation cycle that is dependent on its clients’ timing and resources; Waystar’s dependence on its senior management team and certain key employees, and Waystar’s ability to attract and retain highly skilled employees; the accuracy of the estimates and assumptions Waystar uses to determine the size of its total addressable market; Waystar’s ability to develop and market new solutions, or enhance its existing solutions to respond to technological changes, or evolving industry standards; the interoperability, connectivity, and integration of Waystar’s solutions with its clients’ and their vendors’ networks and infrastructures; the performance and reliability of internet, mobile, and other infrastructure; the consequences if Waystar cannot obtain, process, use, disclose, or distribute the highly regulated data Waystar requires to provide its solutions; Waystar’s reliance on certain third-party vendors and providers; any errors or malfunctions in its products and solutions; failure by Waystar’s 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 Waystar’s employees or vendors, and a failure of Waystar’s employees or vendors to observe quality standards or adhere to environmental, social, and governance standards; Waystar’s 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 Waystar cannot control; privacy concerns and security breaches or incidents relating to Waystar’s platform; the complex and evolving laws and regulations regarding privacy, data protection, and cybersecurity; Waystar’s ability to adequately protect and enforce its intellectual property rights; Waystar’s ability to use or license data and integrate third-party technologies; Waystar’s use of “open source” software; legal proceedings initiated by third parties alleging that Waystar is infringing or otherwise violating their intellectual property rights; claims that Waystar’s employees, consultants, or independent contractors have wrongfully used or disclosed confidential information of third parties; the heavily regulated industry in which Waystar conducts business; the uncertain and evolving healthcare regulatory and political framework; health care laws and data privacy and security laws and regulations governing Waystar’s 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 Waystar’s ability to engage in certain marketing activities; Waystar’s full compliance with website accessibility standards; any changes in Waystar’s tax rates, the adoption of new tax legislation, or exposure to additional tax liabilities; limitations on Waystar’s ability to use its net operating losses to offset future taxable income; losses due to asset impairment charges; restrictive covenants in the agreements governing Waystar’s 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 Waystar’s significant investors, who may have different interests than the interests of other holders of Waystar’s securities; and each of the other factors discussed under the heading of “Risk Factors” in Waystar’s prospectus filed with the SEC on June 7, 2024 and in other reports filed with the SEC, all of which are available on the investor relations page of Waystar’s website at investors.waystar.com.

Any forward-looking statements made by Waystar in this press release speaks 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 Waystar’s actual results to differ may emerge from time to time, and it is not possible for Waystar to predict all of them. You should not place undue reliance on Waystar’s forward-looking statements. Waystar undertakes 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
Daniel Yunger / Nick Capuano / Kerry Kelly
Kekst CNC
kekst-waystar@kekstcnc.com

Investor Contact
Sandy Draper
investors@waystar.com
502-238-9511

View original content:https://www.prnewswire.com/news-releases/waystar-announces-term-loan-repricing-and-credit-rating-upgrades-from-fitch-moodys-and-sp-global-302185144.html

SOURCE Waystar

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

HashKey Cloud Partners with EAG to Support the Ethereum Application Ecosystem through ETH Staking

Published

36 minutes ago

on

April 20, 2026

By

HONG KONG, April 20, 2026 /PRNewswire/ — HashKey Cloud, the digital asset infrastructure service platform under HashKey Group, announced a partnership with the Ethereum Applications Guild (EAG) during the Hong Kong Web3 Festival. The collaboration introduces an ETH Staking support solution for the EAG community.

The initiative aims to provide EAG community members and the broader community of Ethereum builders with transparent and verifiable staking infrastructure. While ensuring users maintain full autonomous control over their assets, the solution uses a specific contribution program to direct a portion of staking rewards toward supporting the growth of EAG and the native Ethereum application ecosystem.

This partnership represents an extension of HashKey’s long-term commitment to the Ethereum ecosystem and provides a new pathway for supporting the development of the application layer.

Reinvesting ETH Staking Rewards into the Ecosystem to Build Long-term Support Mechanisms

EAG is a global non-profit collaborative organization dedicated to driving innovation, adoption, and real-world impact for Ethereum-native applications. By connecting developers, institutions, and various participants, EAG explores and builds open, transparent, and sustainable collaboration mechanisms for the application layer.

The concept of EAG originated from three years of continuous practice by ShanHaiWoo centered around AI, the Ethereum ecosystem, and public goods. The core mission is to establish a sustainable support mechanism for the growth and real-world implementation of native applications. This partnership leverages ETH Staking infrastructure to allow participants to support network operations while simultaneously contributing to ecosystem building.

Launching the EAG Contribution Pool to Meet Staking Needs

According to the cooperation plan, HashKey Cloud will provide the underlying technical architecture and a dedicated frontend interface for the EAG Contribution Pool (DAPP). This DAPP will serve as the interaction interface embedded within the EAG official website or other partner wallets and platforms, making it easy for users to participate directly in ETH Staking.

Node Model: Supports the 0x02 withdrawal credential node model.Capacity: Minimum 32 ETH per node, supporting up to 2048 ETH.Asset Control: Users maintain constant control over their assets. HashKey Cloud does not touch, control, or withhold user funds. It only provides node operation and technical support.Reward Mechanism: When a node has not reached the 2048 ETH limit, rewards are not withdrawn. Once it exceeds 2048 ETH, rewards flow into the user’s exclusive Withdrawal Vault. Users can manually claim rewards or use the Claim & Contribute mechanism to automatically distribute rewards based on preset parameters.

Connecting Infrastructure to the Application Ecosystem

This partnership aims to bridge infrastructure capabilities with community needs. It provides professional, verifiable ETH Staking services while shifting ecosystem support from one-time donations or short-term grants toward more sustainable, ongoing contribution mechanisms.

Moving forward, both sides will continue to collaborate on Ethereum application layer construction, encouraging more developers, communities, and institutions to participate in the long-term development of native applications.

About HashKey Cloud
HashKey Cloud is an institutional-grade staking infrastructure under HashKey (3887.HK). It focuses on providing secure, auditable multi-chain staking services for global institutions, asset managers, and professional investors. Its services include ETF/DAT Staking, Prime Staking, VIP Staking, API Staking, and Prime Yield, helping clients efficiently manage on-chain assets and returns.

About Ethereum Applications Guild (EAG)
The Ethereum Applications Guild (EAG) is a global non-profit organization dedicated to accelerating Ethereum-native applications with real-world impact. EAG connects developers and institutions to build transparent collaboration mechanisms. Through application acceleration, open co-creation, ecosystem partnerships, sustainable funding, and global events, EAG connects builders, institutions, and ecosystem stakeholders to foster the sustainable growth and broader reach of the Ethereum applications ecosystem.

View original content:https://www.prnewswire.co.uk/news-releases/hashkey-cloud-partners-with-eag-to-support-the-ethereum-application-ecosystem-through-eth-staking-302747026.html

Continue Reading

Technology

Step inside Efficient, Healthy, Sustainable Buildings at the 2026 Passive House Network Conference

Published

36 minutes ago

on

April 20, 2026

By

Hotel Marcel will host building science experts from around the world on June 4th & 5th in an event that showcases why Passive House is the building-performance gold standard.

NEW HAVEN, Conn., April 20, 2026 /PRNewswire-PRWeb/ — The 2026 Passive House Network Conference, held on June 4th & 5th in New Haven, CT, invites Passive House architects, designers, developers, and other building enthusiasts from around the world to exchange ideas, share experience, and accelerate the adoption of the world’s most rigorous building efficiency standard. Hosted by The Passive House Network (PHN), the conference highlights the Passive House standard as a solution to the variety of housing, climate, and cost challenges facing the building industry today.

“We’re inviting everyone to profit by experience, because there is nothing more valuable than shared experience,” said Ken Levenson, Executive Director of PHN. “Practitioners around the world are finding that Passive House is the way forward for comfortable, sustainable, and resilient buildings.”

The event will take place at Hotel Marcel, the first Passive House Certified Hotel in the country–an ideal building to act as both host and exemplar for this event. Opened in 2022, the all-electric building features EV charging stations, a solar-paneled parking lot, and a gas-free kitchen. The brutalist masterpiece was originally completed in 1970 as a corporate headquarters by Marcel Breuer before its renovation to the Passive House EnerPHit standard and rebirth as an award-winning hotel. Experts involved in the renovation will attend the conference and present on the process, including Bruce Becker, the architect, developer, and owner of the building.

“It seemed to me that this was a perfect opportunity to build a hotel that really was part of the solution to the climate crisis,” Becker said. “I’m happy to take what I’ve learned and share it with architects and developers who have the same goals, and the 2026 PHN Conference is the perfect place to do that.”

Other highlights of the conference program include a showcase of Passive House buildings from around the world, including Senior Housing in Spain, Social Housing in Ireland, and a New York University student residence retrofit. The conference will showcase developments in building materials, like adobe and mass timber, and highlight how Passive House makes financial sense by increasing value and providing climate resilience.

“We’re inviting everyone to profit by experience, because there is nothing more valuable than shared experience,” said Ken Levenson, Executive Director of PHN. “Practitioners around the world are finding that Passive House is the way forward for comfortable, sustainable, and resilient buildings. This conference will celebrate that and share these discoveries so everyone can benefit from a better built environment.”

Over 30 expert speakers will share their perspectives during the two-day event. Registration is now open, and a full program is available to view on the Conference Webpage.

For more information on The Passive House Network, visit https://passivehousenetwork.org/ or email kim@passivehousenetwork.org.

Media Contact

Kim Ravold, The Passive House Network, 1 6094101308, kim@passivehousenetwork.org, https://passivehousenetwork.org/

View original content:https://www.prweb.com/releases/step-inside-efficient-healthy-sustainable-buildings-at-the-2026-passive-house-network-conference-302746459.html

SOURCE The Passive House Network

Continue Reading

Technology

PEPSI MAX® RECRUITS GLOBAL STARS TO CREATE THE ‘PEPSI FOOTBALL NATION’: WHERE FANS DEFINE THE RULES

Published

36 minutes ago

on

April 20, 2026

By

Sir David Beckham, Mohamed Salah, Vini Jr., Lauren James, Alexia Putellas and Florian Wirtz star in Pepsi MAX’s latest brand film – along with a cameo appearance from chef Gordon Ramsay.The campaign is anchored in the rituals of football, from legendary chants to the shared passion of the global community.Pepsi MAX will launch a browser extension to ensure Rule #1 ‘It’s Football, Not Soccer’ is correct across the web and kicks off a fan-debate with Reddit.

LONDON, April 20, 2026 /PRNewswire/ — Ahead of a summer of sport, Pepsi MAX® has brought together football legends in a brand-new film to celebrate the traditions, rituals and shared passion of fans beyond the 90 minutes.

Following the launch of the Pepsi Football Nation platform, a multi-year global platform designed to bring football culture into everyday life for fans across the globe, the campaign film is inspired by the conversations that keep the spirit of the game alive.

The film opens with Sir David Beckham handing the playbook to the fans, inviting them to dictate the “rules” of the Pepsi Football Nation. Viewers are taken on a high-octane journey through a world where fan debate reigns: from local hangouts to unexpected matchups, Florian Wirtz speed parking with accuracy, to the disbelief of a referee who checks it on VAR, Lauren James teaching a university lecture on breaking the offside trap, and blockbuster movies starring Vini Jr., Alexia Putellas, and Mohamed Salah.

Fans throughout unveil the “rules” that are central to the Pepsi Football Nation, brought to life by the Pepsi global roster: Rule #7: Superstitions are Sacred, Rule #33: Who is the “King of Skill”? Rule #84: You Must Wear Your Winning Jersey to Work. Rule #100: Everything Gets Settled on the Pitch.

To celebrate the film, Pepsi MAX is supporting fans tackle Rule #1 of the Pepsi Football Nation: “It’s called Football, Not Soccer”. Fans will soon be able to download a free web extension that automatically replaces every mention of the word “soccer” with “football.” Whether reading global news or scrolling through searches, fans can ensure the “beautiful game” is always described in the best possible way.

Fan debate also lives in chats, fan pages and blogs. That’s why Pepsi MAX is bringing the debate to Reddit, the world’s fastest-growing hub for football discourse. This activation will allow fans to define their own rules and rituals, empowering the community to dictate how the game is celebrated worldwide.

Eugene Willemsen, Chief Executive Officer, International Beverages at PepsiCo, says: “Football has always gone beyond what happens on the pitch during the 90 minutes. It lives in conversations, rivalries, and traditions that bring fans together every day, across communities, markets, and generations. Pepsi Football Nation celebrates that culture and the many ways fans experience the game beyond the match itself. For decades, Pepsi MAX has been at the heart of the game; now, we’re honoring the shared experiences and ‘rules’ that unite fans worldwide.”

The Pepsi Football Nation celebrates the culture of football on and off the pitch. Fans worldwide can watch the full film on Pepsi MAX’s social channels, including:   X (Twitter),  Instagram, Facebook, TikTok, and YouTube.

Player Quotes

Mohamed Salah: “Fans are what makes the beautiful game great, so having a world where they write the rules just feels right. Love being part of the Pepsi Football Nation and celebrate football’s rituals.”

Vini Jr.: “For me, football is about joy and expression, so joining the Pepsi squad to celebrate the game’s culture and passion was easy. I regret not asking the fans sooner!”

Lauren James: “I’ve always had my own approach to big games, whether playing or watching. So to see all these football culture quirks come together in one campaign was great.”

Alexia Putellas: “There’s something special about football culture beyond the pitch. Rituals that are shared by players and fans. I jumped at the chance to help Pepsi bring those traditions centre stage.”

Florian Wirtz: “Football is so much more than a game. There’s passion, there’s debate, there’s traditions. So, it was fun to tell the rules that fans live by every day.”

Notes to Editors

Browser extension privacy

The web extension will work locally in your browser to replace the word “soccer” with “football” on the webpage you are currently viewing. It does not collect, store, or transmit any personal data. No browsing history, cookies, form inputs, or account information is accessed. The permission to “access data on all websites” is required solely so the extension can read the text on the page you are viewing and make the word replacement. No data leaves your device.

About PepsiCo

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated nearly $94 billion in net revenue in 2025, driven by a complementary beverage and convenient foods portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and drinks, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that places sustainability at the center of our business strategy, seeking to drive growth and build a stronger, more resilient future for PepsiCo and the communities where we operate. For more information, visit www.pepsico.com, and follow on X (Twitter), Instagram, Facebook, and LinkedIn @PepsiCo.

Credit List:

PEPSI IB

Head of Production: Kane Phillips

Senior Producer: Eleanor Fitzgerald

BIG TIME CREATIVE

Production Lead: Inas Nagy

FILM

SAUVAGE.TV

Director: Ernest Desumbila

Executive Producer: Eva Laffitte

Producer: Isidor Arjona

Post Producer: Yukio Montilla

SOCIAL

SAUVAGE.TV

Director: Pere Sala

Executive Producer: Eva Laffitte

Producer: Pablo Gershuni

Post Producer: Yukio Montilla

SOUND DESIGN

Immersus 

Sound Designer: Alex Nicholls-Lee

PHOTOGRAPHY

Madeleine Penfold Studios

Photographer: Madeleine Penfold

Executive Producer: Rhiannon Reid

Video – https://mma.prnewswire.com/media/2959969/Pepsi_Football_Nation.mp4
Photo – https://mma.prnewswire.com/media/2959970/Pepsi_Football_Nation_1.jpg
Photo – https://mma.prnewswire.com/media/2959971/Pepsi_Football_Nation_2.jpg
Photo – https://mma.prnewswire.com/media/2959973/Pepsi_Football_Nation_3.jpg
Logo – https://mma.prnewswire.com/media/2665176/5923853/Pepsi_Logo.jpg

 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/pepsi-max-recruits-global-stars-to-create-the-pepsi-football-nation-where-fans-define-the-rules-302747015.html

Continue Reading

Trending