Heartland Dental launches $150 million term loan at 96.5-97 OID

By Sara Rosenberg

New York, Aug. 14 – Heartland Dental LLC launched on Monday a fungible $150 million add-on first-lien term loan due April 30, 2028 with original issue discount talk of 96.5 to 97, according to a market source.

Pricing on the add-on term loan is SOFR plus 500 basis points with a 0.75% floor.

KKR Capital Markets is the left lead on the deal.

Commitments are due at 5 p.m. ET on Tuesday, the source added.

Proceeds will be used to pay down the company’s existing first-lien term loan due 2025.

Heartland Dental is an Effingham, Ill.-based dental support organization.

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