DENTSPLY International Announces Offering of $1 Billion of Debt Securities
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YORK, Pa., Aug. 16, 2011 (GLOBE NEWSWIRE) -- DENTSPLY International Inc.
(Nasdaq:XRAY) today announced that it has priced an offering of the following
debt securities ("Securities"): $250 million in aggregate principal amount of
floating rate senior notes due 2013; $300 million in aggregate principal amount
of 2.75% senior notes due 2016; and $450 million in aggregate principal amount
of 4.125% senior notes due 2021. Closing of the offering is expected to take
place on August 23, 2011.
The offering is being underwritten by a syndicate of underwriters led by Morgan
Stanley & Co. LLC, Citigroup Global Markets Inc., Wells Fargo Securities, LLC
and Mitsubishi UFJ Securities (USA), Inc.
DENTSPLY intends to use the net proceeds of the offering to fund a portion of
the $1.785 billion purchase price for the acquisition of the entire issued share
capital of Astra Tech AB (the "Acquisition").
The sale of Securities is being made under a shelf registration statement filed
with the United States Securities and Exchange Commission. Additional
information on the offering is available in the prospectus, a copy of which may
be obtained by visiting EDGAR on the SEC website at www.sec.gov or by contacting
Morgan Stanley & Co. LLC at 1585 Broadway, New York, New York 10036, Attention:
Investment Banking Division or 1-866-718-1649; Citigroup Global Markets Inc. at
1-877-858-5407; or Wells Fargo Securities, LLC at 1-800-326-5897.
This press release is not an offer to sell or a solicitation of an offer to buy
any security. Any such offer may only be made by means of the prospectus, copies
of which may be obtained from the underwriters.
About DENTSPLY International Inc.
DENTSPLY designs, develops, manufactures and markets a broad range of
professional dental products including dental implants, endodontic instruments
and materials, orthodontic appliances, restorative materials, preventive
materials and devices, and prosthetic materials and devices. The Company
distributes its dental products in over 120 countries under some of the most
well-established brand names in the industry. DENTSPLY is committed to the
development of innovative, high quality, cost-effective new products for the
dental market.
The DENTSPLY International Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4306
Forward Looking Statements
Certain information contained in this press release constitutes "forward-looking
statements" (as defined in the Securities Litigation Reform Act of 1995)
regarding, among other things, the closing of the offering and the consummation
of the Acquisition. Words such as anticipate, expect, project, intend, believe,
and words and terms of similar substance used in connection with any discussion
of future plans, actions or events identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management, are inherently
subject to significant business, economic and competitive uncertainties and
contingencies.
For a more detailed description of risk factors affecting the Company, please
refer to the Company's Annual Report on Form 10-K and subsequent periodic
reports on Forms 10-Q and other filings with the Securities and Exchange
Commission, including the prospectus relating to the offering. Copies of all
recent SEC filings are available through the SEC's website: www.sec.gov.
Forward-looking statements included in this release speak only as of the date of
this press release. The Company undertakes no obligation to update its
forward-looking statements to reflect events or circumstances after the date of
this release.
CONTACT: Derek Leckow
Vice President
Investor Relations
(717) 849-7863
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