Dentsply Sirona issues $550M of 8.375% junior subordinated notes due 2055, repays $435M bridge loan

DENTSPLY SIRONA Inc.

Issued $550M aggregate principal of 8.375% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due September 12, 2055.
Interest rate: 8.375% through September 12, 2030, then resets to 5-year UST rate + 4.379% with an 8.375% floor.
Used proceeds to repay in full the outstanding $435M 364-day bridge loan facility, terminating it with no penalties.
Notes redeemable at par during 90 days before first reset date and on interest payment dates after first reset.

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