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.