American Dental amends loan, pushing out maturity, modifying pricing

By Sara Rosenberg

New York, Oct. 28 - American Dental Partners Inc. amended its credit facility, extending the maturity date to Jan. 20, 2010 from July 20, 2009 and revising pricing, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

At current leverage levels, pricing on the credit facility will be Libor plus 450 basis points. However, term loan pricing will go up by 50 bps on March 1, 2009 and each 90 days thereafter.

The amendment was completed on Oct. 24.

KeyBank is the administrative agent on the deal.

American Dental is a Wakefield, Mass.-based provider of dental facilities, support staff and business services to multidisciplinary dental group practices.

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