Sirona gets new multi-currency credit facility

By Sara Rosenberg

New York, Nov. 29 - Sirona Dental Systems Inc. closed on a new five-year credit facility, consisting of a $150 million term loan, a €275 million term loan and a $150 million revolver, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

JPMorgan and UBS acted as the lead banks on the deal.

Pricing on the facility is Libor plus 75 basis points.

The revolver has a $150 million accordion feature.

Proceeds from the new facility, which was completed on Nov. 22, were used refinance the company's existing bank debt that carried an interest rate ranging from Libor plus 225 to 325 bps.

Sirona is a Bensheim, Germany-based manufacturer of dental equipment and technologies.

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