Aspen Dental to launch $1.45 billion credit facilities on Wednesday

By Sara Rosenberg

New York, Nov. 30 – Aspen Dental Management is scheduled to hold a lender call at 1:30 p.m. ET on Wednesday to launch $1.45 billion of credit facilities, according to a market source.

RBC Capital Markets, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC are the leads on the debt.

The facilities consist of a $250 million five-year revolver that is expected to be undrawn at close and a non-fungible $1.2 billion seven-year incremental term loan B, the source said.

Commitments are due at 5 p.m. ET on Dec. 15.

Proceeds will be used to fund the acquisition of ClearChoice Management Services from Sun Capital Partners Inc.

Closing is expected by the end of the year, subject to regulatory and other customary conditions.

Aspen Dental is an East Syracuse, N.Y.-based dental support organization. ClearChoice is a provider of administrative practice management services to the network of ClearChoice Dental Implant Centers.

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