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Aspen Dental talks $700 million term loan at Libor plus 400-425 bps
By Sara Rosenberg
New York, June 14 – Aspen Dental Management Inc. launched on Monday its non-fungible $700 million incremental term loan (B2/B) with price talk of Libor plus 400 basis points to 425 bps with a 0.5% Libor floor and an original issue discount of 99, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
RBC Capital Markets is the lead on the deal.
Commitments are due at noon ET on June 23, the source added.
Proceeds will be used to fund a shareholder distribution.
Aspen Dental is an East Syracuse, N.Y.-based dental support organization.
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