Forefront to launch $730 million credit facilities on Thursday

By Sara Rosenberg

New York, March 9 – Forefront Dermatology (Dermatology Intermediate Holdings III Inc.) is scheduled to hold a lender call at 11 a.m. ET on Thursday to launch $730 million of credit facilities, according to a market source.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., RBC Capital Markets, UBS Investment Bank and Natixis are the arrangers on the deal.

The facilities consist of a $95 million revolver and a $635 million seven-year first-lien term loan, of which $100 million is a delayed-draw tranche, the source said.

The term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on March 24, the source added.

Proceeds will be used to help fund the buyout of the company by Partners Group from Omers Private Equity. Omers will maintain a minority equity stake in the company.

Forefront is a Manitowoc, Wis.-based dermatology physician practice.

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