Bloomberg has the latest on the financing of Emdeon's pending $3 billion buyout. Private equity titan Blackstone has told investors it has set the interest rate on a $1.2 billion term loan at the low end of its previous range. That move, Bloomberg says, will save the Nashville-based health care transaction intermediary some $3 million in interest per year.

Separately, Emdeon on Friday sold $375 million of debt yielding 11 percent in a private placement.

Bloomberg's Christine Idzelis report that private-equity firm Blackstone is looking for a $1.2 billion loan without any covenants to help it complete its $3 billion buyout of Nashville-based Emdeon. But in contrast to other buyers early this year, when cov-lite lending was at 2007 levels, Blackstone may not get all it wants.

“Anything that comes with a non-standard structure will have a much more difficult time finding a home with investors,” said Russell Morrison, the Charlotte, North Carolina-based head of high-yield investments at Babson Capital Management LLC.

Shares of Emdeon are up almost 10 percent this afternoon after the New York Post reported that private-equity firm Blackstone will "shortly" announce its acquisition of the company for $3 billion. Emdeon (Ticker: EM) popped last week after The Wall Street Journal first reported on the talks.