Dentsply Sirona draws down full amount of $700 million revolver

By Wendy Van Sickle

Columbus, Ohio, April 22 – Dentsply Sirona Inc. gave notice on April 17 to JPMorgan Chase Bank, NA as administrative agent for its July 2018 credit agreement to draw down the full $700 million revolver, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings bear interest at Libor plus 125 basis points.

The company said it has no immediate need for additional liquidity but elected to drawdown the revolver to provide additional liquidity and financial flexibility in light of current economic conditions and uncertainties arising in connection with the Covid-19 pandemic.

Proceeds will be used for working capital and other general corporate purposes.

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

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