DENTSPLY SIRONA Inc. filed a Current Report on Form 8-K on October 8, 2026, announcing amendments to its revolving credit facility and related note purchase agreements. The company obtained the consent of lenders to enter into the Third Amendment to Credit Agreement, dated September 30, 2026, with JPMorgan Chase Bank, N.A. serving as the administrative agent.
The amendments include a series of changes intended to maintain compliance with debt covenants. Under the Third Amendment to Credit Agreement, the maximum permitted Total Leverage Ratio and Senior Leverage Ratio were increased for fiscal quarters ending September 30, 2026, and December 31, 2026. Additionally, the company was permitted to add back certain cash charges or expenses to EBITDA for those same fiscal quarters.
The company also executed Note Purchase Agreement Amendments No. 5 on September 30, 2026, regarding three specific note agreements dated December 11, 2015, October 27, 2016, and June 24, 2019. These amendments introduced a new pricing level for the facility fee and margin, as well as increased incremental interest rates on the notes if the company’s total leverage ratio reaches specified thresholds.
Further terms of the agreements include restrictions on new liens and subsidiary debt, limitations on restricted payments, and the requirement for quarterly reporting on certain initiatives and their related costs and savings. The company stated that the revised terms are intended to allow it to maintain compliance with its debt covenants in all material respects.
