Dentsply Sirona announced on June 5, 2025, the pricing of an offering of $550 million aggregate principal amount of its 8.375% Junior Subordinated Notes due 2055. The offering is expected to close on June 12, 2025, subject to customary closing conditions.
The notes will bear interest at a fixed rate of 8.375% per year until September 12, 2030, after which the interest rate will reset based on the five-year U.S. Treasury rate plus a spread of 4.379%, with a floor of 8.375%. Interest will be payable semi-annually.
The net proceeds from the offering are expected to be approximately $544.5 million. Dentsply Sirona intends to use these proceeds for general corporate purposes, including the repayment of indebtedness outstanding under its existing 364-day $435 million term loan and other short-term indebtedness.
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