American Dental Partners Launches Syndication of Senior Secured Facilities
January 18 2012 - 3:08PM
American Dental Partners, Inc. ("American Dental Partners" or the
"Company") today announced that it has launched the syndication of
$241 million of senior secured facilities ("Senior Secured
Facilities"), consisting of a $36 million revolving facility and a
$205 million term loan. The proceeds from the Senior Secured
Facilities, together with equity from JLL Partners Fund VI, L.P.
and certain other investors, are being used to finance the
acquisition of American Dental Partners and to pay certain fees and
expenses.
KeyBank National Association ("KeyBank"), CIT Capital Securities
("CITCS") and NXT Capital, LLC ("NXT") will act as joint
bookrunning managers of the debt financing.
This press release does not constitute an offer to purchase any
securities or a solicitation of an offer to sell any
securities.
About American Dental Partners
American Dental Partners is headquartered in Wakefield,
Massachusetts and is one of the nation's leading business partners
to dental group practices. The Company is affiliated with 27 dental
group practices, which have 282 dental facilities with
approximately 2,404 operatories located in 21 states. More
information can be found on American Dental Partners' website,
which includes expanded investor information and resources.
Forward-Looking Statements. This press release contains
forward-looking statements regarding American Dental Partner's
intention to obtain the Senior Secured Facilities and its intended
use of the resulting proceeds. There is no assurance that
American Dental Partner's will successfully complete the proposed
debt financing or use the proceeds as presently intended. Investors
should not place undue reliance on forward-looking statements as
predictions of future results. American Dental Partner's undertakes
no obligation to update or revise any forward-looking statements to
reflect developments or information obtained after the date of this
press release.
CONTACT: American Dental Partners, Inc.
401 Edgewater Place, Suite 430
Wakefield, MA 01880
Phone: 781/224-0880
Fax: 781/224-4216
Gregory A. Serrao
Chairman, President and
Chief Executive Officer
781-224-0880
Breht T. Feigh
Executive Vice President, Chief
Financial Officer and Treasurer
781-224-0880
American Dental Partners (NASDAQ:ADPI)
Historical Stock Chart
From Oct 2024 to Nov 2024
American Dental Partners (NASDAQ:ADPI)
Historical Stock Chart
From Nov 2023 to Nov 2024