Heartland Dental ups term loan to $350 million, firms OID at 97

By Sara Rosenberg

New York, Aug. 16 – Heartland Dental LLC upsized its fungible add-on first-lien term loan due April 30, 2028 to $350 million from $150 million and set the original issue discount at 97, the tight end of the 96.5 to 97 talk, 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.

Recommitments were scheduled to be due at 10 a.m. ET on Wednesday, 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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