Published on 3/25/2014 in the Prospect News High Yield Daily.
New Issue: Entegris prices $360 million eight-year notes at par to yield 6%
By Paul A. Harris
Portland, Ore., March 25 - Entegris, Inc. priced a $360 million issue of eight-year senior notes (B3/BB-/) at par to yield 6% on Tuesday, according to a market source.
The yield printed at the tight end of the 6% to 6¼% yield talk.
Goldman Sachs & Co. was the bookrunner.
The Billerica, Mass.-based supplier of products and services in the semiconductor industry plans to use the proceeds to fund a portion of its proposed acquisition of ATMI, Inc.
Issuer: | Entegris, Inc.
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Amount: | $360 million
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Maturity: | April 1, 2022
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Securities: | Senior notes
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Bookrunner: | Goldman Sachs & Co.
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Co-managers: | Jefferies LLC, PNC Capital Markets, Stifel Nicolaus & Co. Inc., U.S. Bancorp Investments Inc.
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Coupon: | 6%
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Price: | Par
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Yield: | 6%
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Price talk: | 6% to 6¼%
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Call protection: | Three years
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Trade date: | March 25
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Settlement date: | April 1
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Ratings: | Moody's: B3
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| Standard & Poor's: BB-
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Distribution: | Rule 144A and Regulation S for life
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Marketing: | Roadshow
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