MKS launches $3.57 billion term loan B at SOFR plus 250 bps

By Sara Rosenberg

New York, Sept. 21 – MKS Instruments Inc. was scheduled to hold a lender call at 2 p.m. ET on Thursday to launch a roughly $3.573 billion term loan B due August 2029 that is talked at SOFR plus 250 basis points with a 0.5% floor and an original issue discount of 99.75 to par, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at 5 p.m. ET on Sept. 28, the source added.

Proceeds will be used to reprice an existing term loan B down from SOFR plus 275 bps with a 0.5% floor.

MKS is an Andover, Mass.-based provider of technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications.

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