Morgan sells $112 million, €60 million notes; Dentsply places €350 million; Casey’s settles

By Devika Patel

Knoxville, Tenn., Oct. 28 – In private placement news on Friday, Morgan Advanced Materials plc settled a private placement of $112 million and €60 million of notes; York, Pa., dental products manufacturer Dentsply Sirona Inc. sold €87.5 million of senior notes in a private placement and its subsidiary Sirona Dental Services GmbH sold €262.5 million of notes on Thursday; and Casey’s General Stores, Inc. completed its $50 million second tranche of a $100 million private placement of senior notes on Friday.

Morgan sold $112 million of seven-year senior notes and 10-year senior notes, which were issued at an average coupon of 3.34% and a blended term of 9.6 years, and €60 million of seven-year senior notes, 10-year senior notes and 12-year senior notes, which were issued at an average coupon of 1.43% and a blended term of 9.1 years. The new debt extends the Windsor, England, engineering company’s debt maturity profile; proceeds will be used to repay existing debt and for other general corporate purposes.

Casey’s, a convenience store operator based in Ankeny, Iowa, sold $50 million of 3.65% senior notes, series C, due May 2, 2031 and $50 million of 3.72% senior notes, series D, due Oct. 28, 2031. The series C notes were issued on May 2, and the series D notes were issued on Friday. Proceeds will be used for store constructions, remodels and acquisitions and for other working capital purposes.

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