Heartland Dental, Life Time, Oxbow Carbon term loans free to trade

By Sara Rosenberg

New York, May 5 – Heartland Dental LLC downsized its amended and extended first-lien term loan and set the original issue discount at the wide end of talk, and then the loan broke for trading on Friday above its issue price.

Heartland scaled back its senior secured amended and extended first-lien term loan (B-) due April 30, 2028 to $1,382,700,000 from roughly $1,850,200,000 and finalized the original issue discount at 96, the wide end of the 96 to 97 talk, a market source said.

Pricing on the term loan remained at SOFR plus 500 basis points with a 0.75% floor, and the debt still has 101 soft call protection for six months.

Also, before making their way into the secondary market, Life Time Inc. increased the size of its term loan B and firmed the original issue discount at the tight end of talk, and Oxbow Carbon LLC finalized the spread on its term loan B at the high end of guidance.

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