MKSI - MKS Instruments Completes Refinancing of Secured Term Loan A | Benzinga
ANDOVER, Mass., Jan. 22, 2024 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ:MKSI) ("MKS"), a global provider of enabling technologies that transform our world, announced today that it successfully completed the refinancing of its existing $744 million secured tranche A term loans using a portion of the proceeds of its $490 million incremental secured U.S. dollar tranche B term loans and €250 million incremental secured Euro tranche B term loans (collectively, the "Term Loan B"). As a result of the refinancing, the maturity of the refinanced loans has been extended to 2029, consistent with MKS' existing secured tranche B term loans, and is expected to result in savings by reducing MKS' weighted average cost of debt on the amount of debt refinanced by approximately 30 to 35 basis points based on current interest rates.
"This move adds flexibility, simplifies our capital structure, and is consistent with our longstanding track record of proactively managing our ...