Dental Corp. reveals talk on $177 million of incremental term loans

By Sara Rosenberg

New York, March 1 – Dental Corp. of Canada Inc. released price talk on its $127 million incremental first-lien term loan due June 6, 2025 and $50 million incremental second-lien term loan due June 6, 2026 with its lender call on Friday, according to a market source.

Price talk on the incremental first-lien term loan is Libor plus 375 basis points with a 0% Libor floor and an original issue discount of 98.56, and talk on the incremental second-lien term loan is Libor plus 750 bps with a 0% Libor floor and a discount of 98.26, the source said.

The first-lien term loan is getting 101 soft call protection for six months.

Jefferies LLC is the lead arranger on the $177 million of incremental term loan debt.

Proceeds will be used to fund acquisitions.

In connection with this transaction, the company is seeking an amendment to allow for incremental borrowings and is offering lenders a 10 bps amendment fee, the source added.

Commitments and consents are due at 1 p.m. ET on Thursday.

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

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