Dentsply Sirona enters into $310 million 364-day revolver

By Wendy Van Sickle

Columbus, Ohio, April 9 – Dentsply Sirona Inc. entered into a $310 million 364-day senior unsecured revolving credit facility on Thursday with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings bear interest at Libor plus a margin that ranges from 95 basis points to 145 bps, depending on the company’s debt ratings from Moody’s Investors Service and S&P Global Ratings.

The facility fee ranges from 17.5 bps to 30 bps and also depends on ratings.

The revolver matures on April 8, 2021.

The proceeds of the credit agreement will be used for working capital from time to time and other general corporate purposes.

JPMorgan and Citibank, NA are joint bookrunners and lead arrangers, with Citibank as the syndication agent.

Dentsply is a York, Pa., dental products manufacturer.

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