dentalcorp Announces Extension of Maturity of Credit Facility | dentalcorp
Summary
dentalcorp Holdings Ltd. (dentalcorp or the Company) (TSX: DNTL), Canadas 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. This reduction reflects dentalcorps continued ability to generate strong free cash flow while maintaining its balanced approach to growth and will lower the Companys overall cost of capital.In addition, dentalcorp has fully hedged the previously unhedged portion of its credit facility. As a result, 100% of the Companys 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 dentalcorps 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.dentalcorp is Canadas largest and one of North Americas fastest growing networks of dental practices, committed to advancing the overall well-being of Canadians by delivering the best clinical outcomes and unforgettable experiences. 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.