Citigroup Venture Capital turned to UBS and Merrill Lynch to provide financing to back its purchase of Western Dental Services. Launched last Thursday, the reworked credit consists of a $25 million revolver and a $250 million covenant-lite term loan. Pricing on the revolver is being talked at LIBOR plus 2 3/4%, while pricing on the term loan is being talked at LIBOR plus 6%. Call protection on the term loan is 102, 101.
UBS, Merrill Launch Western Dental Deal