DENTSPLY SIRONA Inc. (XRAY): debt financing — Dentsply Sirona enters $700M revolving credit facility, extends maturity to 2028

DENTSPLY SIRONA Inc.

New $700M five-year multicurrency revolving facility expires May 12, 2028, replacing existing $700M facility due July 2024.
Facility is senior unsecured; interest rates tied to Moody's/S&P ratings with spreads from 0% to 0.225% for ABR loans.
Covenants require leverage and interest coverage ratios consistent with prior facility; no change in financial covenant levels.
Proceeds for working capital and general corporate purposes; JPMorgan and Citibank lead arrangers.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DENTSPLY SIRONA Inc. incurred revolving credit of $700 million with JPMorgan Chase Bank, N.A. (Administrative Agent) and lenders maturing May 12, 2028.

Instrument: revolving credit
Principal: $700 million
Counterparty: JPMorgan Chase Bank, N.A. (Administrative Agent) and lenders
Maturity: May 12, 2028
Event: incurrence

Exact text from the filing

On May 12, 2023, DENTSPLY SIRONA Inc. (the “Company”) entered into a five-year senior unsecured multicurrency revolving facility (the “Facility”) pursuant to a Credit Agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as Administrative Agent, Citibank, N.A., as Syndication Agent, Bank of America, N.A., Commerzbank AG, New York Branch, PNC Bank, National Association, TD Bank, N.A., Truist Bank and Wells Fargo Bank, National Association as Co-Documentation Agents, JPMorgan Chase Bank, N.A., and Citibank N.A., as Joint Bookrunners and Joint Leader Arrangers, and the lenders party thereto, for an aggregate principal amount of $700 million, that expires on May 12, 2028.

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Source: SEC EDGAR

accession 0000818479-23-000038

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