Dentalcorp plans C$1.3 billion credit facilities for refinancing

By Sara Rosenberg

New York, May 10 – Dentalcorp plans on getting C$1.3 billion of five-year senior secured credit facilities in connection with its initial public offering of subordinate voting shares, according to a recent filing with Sedar.

CIBC is the administrative agent on the debt. CIBC, BMO, TD, RBC, Merrill Lynch and Scotia are expected to be lenders under the credit facilities.

The facilities consist of a C$100 million revolver, a C$300 million non-amortizing delayed-draw acquisition term loan and a C$900 million non-amortizing term loan.

Proceeds will be used with proceeds from the IPO to refinance the company’s existing credit facilities.

The IPO is expected to generate gross proceeds of about C$700 million at an offering price between C$16.00 and C$19.00 per subordinate voting share.

Dentalcorp is a dental support organization in Canada providing a full spectrum of dental services.

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