Cotiviti Holdings a payment accuracy provider to the healthcare and retail industries, said its subsidiary, Cotiviti, successfully amended the terms of its existing $547.3 million secured term B loan facility. The new terms include a reduction in the spread over LIBOR from 2.75% to 2.50% and the LIBOR floor from 0.75% to 0.

With the exception of pricing, the amended credit agreement is substantially similar to Cotiviti’s previous credit agreement.

JPMorgan Chase, SunTrust Robinson Humphrey, Goldman Sachs USA, Barclays Bank, Citigroup Global Markets, Credit Suisse Securities (USA), Morgan Stanley Senior Funding and RBC Capital Markets acted as joint lead arrangers and the joint bookrunners on the transaction.

“We are very pleased with the new terms of our credit facility term B loan and the ability to improve our financial flexibility,” said Steve Senneff, chief financial officer of Cotiviti. “With the reduction in interest rate spread at current prevailing interest rates, we will reduce interest expense approximately $1.4 million on an annualized basis.”