Heartland Dental to launch $1.29 billion credit facilities Thursday

By Sara Rosenberg

New York, April 4 – Heartland Dental LLC is set to hold a bank meeting at 10 a.m. ET on Thursday to launch $1,285,000,000 of credit facilities, according to a market source.

Jefferies LLC, KKR Capital Markets, TD Securities (USA) LLC, BMO Capital Markets and Macquarie Capital (USA) Inc. are the lead arrangers on the deal.

The facilities consist of a $135 million revolver, a $1 billion seven-year first-lien term loan and a $150 million seven-year delayed-draw for two years term loan, the source said.

Included in the term loan is 101 soft call protection for six months.

Proceeds will be used to help fund the buyout of the company by KKR from Ontario Teachers’ Pension Plan and other existing shareholders.

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

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