Aspen Dental flexes $50 million add-on loan to Libor plus 275 bps

By Sara Rosenberg

New York, Feb. 4 – Aspen Dental Management Inc. (ADMI Corp.) increased pricing on its fungible $50 million add-on term loan (B2/B) due April 30, 2025 to Libor plus 275 basis points from Libor plus 250 bps and eliminated plans to reprice its existing $857 million term loan (B2/B) due April 30, 2025 to Libor plus 250 bps from Libor plus 275 bps, according to a market source.

The add-on term loan still has a 0% Libor floor and an original issue discount of 99.75.

RBC Capital Markets is the lead bank on the deal.

Proceeds will be used to fund a dividend.

Aspen Dental is an East Syracuse, N.Y.-based dental support organization.

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