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MKS Instruments launches $398.5 million term B at Libor plus 175 bps
By Sara Rosenberg
New York, March 29 – MKS Instruments Inc. launched on Thursday its $398.5 million first-lien term loan B due April 29, 2023 with price talk of Libor plus 175 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.
Commitments are due at 5 p.m. ET on April 5, the source added.
Proceeds will be used to reprice an 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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