Entegris to sell $350 million eight-year notes in Thursday drive-by

By Paul A. Harris

Portland, Ore., April 23 – Entegris Inc. plans to price a $350 million offering of eight-year senior notes (Ba2/BB) in a Thursday drive-by following a late-morning conference call with investors, according to a syndicate source.

Left lead bookrunner Morgan Stanley & Co. LLC will bill and deliver. BofA Securities Inc., Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, PNC Capital Markets LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after three years at par plus 50% of the coupon.

The Billerica, Mass.-based company plans to use the proceeds to repay approximately $142 million under its revolving credit facility and for general corporate purposes. If current business conditions continue, the company also expects to repay $200 million of term loan debt over the course of the next several quarters, the syndicate source said.

Entergis supplies materials and services used in the semiconductor device fabrication process.

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