dentalcorp Announces Extension of Maturity of Credit Facility

dentalcorp Holdings Ltd. (“dentalcorp” or the “Company”) (TSX: DNTL), Canada’s leading network of dental practices, today announced an extension to its existing syndicated senior secured credit facility with a consortium of banks, led by CIBC Capital Markets and TD Securities. The maturity date of the credit facility will be extended to January 18, 2028, from its original May 27, 2026 date. Concurrently, dentalcorp reduced the facility amount from $1.75 billion to $1.4 billion. This reduction reflects dentalcorp’s continued ability to generate strong free cash flow while maintaining its balanced approach to growth and will lower the Company’s overall cost of capital.

In addition, dentalcorp has fully hedged the previously unhedged portion of its credit facility. As a result, 100% of the Company’s bank debt exposure is now subject to a blended rate of approximately 6.6%, at current leverage levels, through May 2026.

The lending syndicate for the new facility is being led by CIBC Capital Markets and TD Securities acting as Bookrunners, and CIBC Capital Markets, TD Securities, Bank of America, and RBC Capital Markets acting as Co-Lead Arrangers.

“The continued support from our banking partners reaffirms dentalcorp's solid fundamentals and resilient business model. The new credit terms not only offer interest savings but also are in line with our strategic objectives for sustained double-digit growth and self-funding of our acquisitive program,” commented Nate Tchaplia, Chief Financial Officer of dentalcorp.

About dentalcorp

dentalcorp is Canada's largest and one of North America's fastest growing networks of dental practices, committed to advancing the overall well-being of Canadians by delivering the best clinical outcomes and unforgettable experiences. dentalcorp acquires leading dental practices, uniting its network in a common goal: to be Canada's most trusted healthcare network. Leveraging its industry-leading technology, know-how and scale, dentalcorp offers professionals the unique opportunity to retain their clinical autonomy while unlocking their potential for future growth. To learn more, visit dentalcorp.ca.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240123075584/en/

For investor inquiries, please contact: 416.558.8338 x 116 investors@dentalcorp.ca

dentalcorp (TSX:DNTL)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024