ENTG - Entegris raises $1.6B through private debt offering

Entegris Escrow Corporation, a wholly-owned subsidiary of Entegris (NASDAQ:ENTG) has priced its previously announced private offering of $1.6B of 4.750% senior secured notes due 2029 at $995.23 per $1,000 principal amount. The offering is expected to close on April 14, 2022. Net proceeds together with the borrowings under previously announced senior unsecured bridge facility and senior secured first lien term loan B facility and cash on hand will be used to finance a portion of the cash consideration for the previously announced merger with CMC Materials, Inc., to repay certain existing indebtedness of CMC and Entegris and in the case of the term loan facility, finance working capital and general corporate purposes. The gross proceeds of the notes, together with certain additional amounts, will be deposited into a separate escrow account for the notes until the consummation of the Merger. Shares up 3% premarket.

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Entegris raises $1.6B through private debt offering