Dental Corp. to launch $925 million credit facilities on Wednesday

By Sara Rosenberg

New York, May 14 – Dental Corp. of Canada Inc. is scheduled to hold a bank meeting at 10 a.m. ET on Wednesday to launch $925 million of credit facilities, according to a market source.

Jefferies LLC is the left lead arranger on the deal.

The facilities consist of a $50 million revolver, a $500 million seven-year first-lien term loan, a $125 million seven-year delayed-draw first-lien term loan, a $200 million eight-year second-lien term loan and a $50 million eight-year delayed-draw second-lien term loan, the source said.

The first-lien term loan has 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Proceeds will be used to fund the acquisition of the company by L Catterton.

Imperial Capital Group Ltd. and OPTrust Private Markets Group, together with management and Dental Corp.’s dentist shareholders, will continue to hold a significant equity interest in the company.

Dental Corp. is a network of general and specialist dental clinics in Canada.

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