MKS Instruments makes $40 million prepayment on repriced term loan

By Marisa Wong

Morgantown, W.Va., Dec. 14 – MKS Instruments, Inc. said it repaid $40 million on its secured term loan, reducing the outstanding principal to $628,175,000, according to an 8-K filing with the Securities and Exchange Commission.

The company said it used previously repatriated cash and cash on hand for the paydown.

The term loan had an original principal amount of $780 million.

The company also announced that it completed the second repricing of the term loan. As previously reported, lenders had agreed to reduce interest by 75 basis points to Libor plus 275 bps with a 0.75% Libor floor.

Barclays led the repricing on the existing term loan B.

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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