Heartland Dental talks $100 million tap of 10½% notes due 2028 at 99.5-par; pricing Wednesday

By Paul A. Harris

Portland, Ore., Sept. 5 – Heartland Dental talked a $100 million add-on to the Heartland Dental, LLC/Heartland Dental Finance Corp. 10½% senior secured notes due April 30, 2028 (expected ratings B2/B-) at 99.5 to par, according to market sources.

Official talk came on top of initial price guidance.

Books close at 11 a.m. ET on Wednesday, and the Rule 144A and Regulation S for life deal is set to price shortly thereafter.

The notes are subject to a first call on May 15, 2025 at 105.25.

Jefferies LLC is the left arranger. KKR Capital Markets LLC is the joint arranger.

The Effingham, Ill.-based dental support organization plans to use the proceeds to pay off the remaining 2018 term loan and for general corporate purposes.

The original $535 million issue priced in May 2023.

The add-on notes will immediately become fungible with the original notes.

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