Heartland Dental to launch $75 million add-on term loan on Thursday

By Sara Rosenberg

New York, Jan. 21 – Heartland Dental Care LLC is scheduled to hold a call at 4 p.m. ET on Thursday to launch a fungible $75 million add-on term loan, according to a market source.

RBC Capital Markets is the lead bank on the deal.

Pricing on the add-on is Libor plus 450 basis points with a 1% Libor floor, in line with the existing term loan.

The original issue discount on the add-on term loan is not yet available, the source said.

Proceeds will be used to repay all of the company’s outstanding revolver borrowings.

Commitments are due on Jan. 29, the source added.

Heartland Dental is an Effingham, Ill.-based provider of office support services to dental offices.

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