Gold prices bounce off 3-week lows; demand likely longer term
CHARLOTTE, N.C. - Dentsply Sirona Inc. (NASDAQ:XRAY), a global manufacturer of professional dental products and technologies, with current market capitalization of $3.17 billion and annual revenue of $3.72 billion, has announced the pricing of a $550 million offering of its 8.375% Junior Subordinated Notes due in 2055. The offering is scheduled to close on June 12, 2025, with customary closing conditions in place. According to InvestingPro analysis, the company appears undervalued based on its Fair Value calculations.
The notes will initially bear a fixed interest rate of 8.375% per annum until September 12, 2030. Post this date, the interest rate will be adjusted to the five-year U.S. Treasury rate plus a spread of 4.379%, with a minimum rate cap at 8.375%. Interest payments are to be made semi-annually, starting September 12, 2025.
Dentsply Sirona anticipates net proceeds of approximately $544.5 million from the offering, after accounting for underwriting discounts but before expenses. The company plans to allocate these funds for general corporate activities, including the repayment of its $435 million term loan and other short-term debts. InvestingPro data shows the company’s total debt stands at $2.44 billion, with a debt-to-equity ratio of 1.21. Get access to more detailed financial metrics and 8 additional ProTips about XRAY with an InvestingPro subscription.
Goldman Sachs & Co. LLC is the sole book-running manager for the transaction, with PNC Capital Markets LLC, Commerz Markets LLC, Truist Securities, Inc., and MUFG Securities Americas Inc. serving as co-managers. The offering is made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC), available through the SEC’s website or by contacting Goldman Sachs & Co. LLC.
This press release does not constitute a sales offer or a solicitation to purchase the notes or any other securities and is not valid in any state or jurisdiction where such an offer or sale would be illegal.
The forward-looking statements in the press release are based on various assumptions and known risks, and there is no guarantee that the expectations or plans will be realized. The company’s SEC filings detail these risks, and investors are advised that the company does not commit to updating forward-looking statements as circumstances change.
Dentsply Sirona, headquartered in Charlotte, North Carolina, prides itself on a century-long history of innovation and service in the dental industry, offering a wide array of high-quality products and connected solutions for improved patient care and dental safety. Notable achievements include maintaining dividend payments for 32 consecutive years, with a current dividend yield of 3.98%. The company’s gross profit margin stands at 51.84%, reflecting its strong market position. The information for this article is based on a press release statement and InvestingPro data, where investors can access comprehensive Pro Research Reports covering 1,400+ top stocks, including detailed analysis of XRAY.
In other recent news, Dentsply Sirona Inc. reported its first-quarter 2025 earnings, exceeding analyst expectations with an adjusted earnings per share (EPS) of $0.43, surpassing the forecasted $0.3036. The company’s revenue reached $879 million, slightly above the anticipated $859.26 million. Additionally, Dentsply Sirona announced amendments to its credit and note agreements, including changes to financial covenants and interest rate provisions, as part of efforts to manage its financial structure. In corporate leadership changes, Matthew E. Garth has been appointed as the new Executive Vice President and Chief Financial Officer, effective May 30, 2025. The company also disclosed the outcomes of its annual stockholders’ meeting, where all director nominees were elected, and Deloitte and Touche LLP were ratified as the independent registered public accountants for 2025. Furthermore, Dentsply Sirona’s 2024 Omnibus Incentive Plan was amended to increase the number of shares issuable under the plan. These developments reflect the company’s ongoing strategic initiatives and financial management efforts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.