Dentsply Sirona amends credit and note agreements, resets leverage covenant limits
On December 24, 2025, Dentsply Sirona obtained lender consent and signed amendments to its JPMorgan-agented revolving credit facility and three note purchase agreements. The changes replace the prior leverage covenants with new Total Leverage and Senior Leverage Ratio limits, cap efficiency-initiative EBITDA addbacks at $75 million through December 31, 2026, and add a new covenant restricting Restricted Payments, subject to exceptions.
- Amendments dated December 24, 2025 cover the revolving credit facility with JPMorgan Chase Bank, N.A. as administrative agent and three note purchase agreements.
- Total Leverage Ratio cap is 4.25 to 1.00 for quarters ending December 31, 2025 through June 30, 2026, stepping down to 3.50 to 1.00 from September 30, 2027.
- Senior Leverage Ratio cap is 3.25 to 1.00 through June 30, 2026, stepping down to 2.50 to 1.00 from September 30, 2027.
- EBITDA addbacks for efficiency initiatives are capped at $75 million in the aggregate for quarters ending December 31, 2025 through December 31, 2026.