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MKS Instruments launches $628 million term B at Libor plus 275 bps
By Sara Rosenberg
New York, Dec. 1 – MKS Instruments Inc. launched on Thursday its $628 million covenant-light term loan B due April 29, 2023 with price talk of Libor plus 275 basis points with a 0.75% Libor floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Barclays is the bookrunner on the deal.
Proceeds will be used to reprice the company’s existing term loan B from Libor plus 350 bps with a 0.75% Libor floor.
MKS is an Andover, Mass.-based provider of instruments, subsystems and process control solutions that measure, control, power, monitor and analyze critical parameters of advanced manufacturing processes.
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