ENTG - Entegris subsidiary prices $878M debt offering

Entegris Escrow, wholly-owned subsidiary of Entegris (NASDAQ:ENTG) prices its previously announced private offering of $895M of 5.950% senior unsecured notes due 2030 at a price of $908.32/$1,000 principal amount for expected proceeds of ~$878M. Offering is expected to close on June 30, 2022. Net proceeds from the proposed offering along with previous notes offering of notes and borrowings and cash on hand to finance a portion of announced merger of Yosemite Merger Sub, Inc., a wholly-owned subsidiary of Entegris (ENTG), with and into CMC Materials, pay the fees and expenses related to the merger and notes offerings and repay certain existing indebtedness of CMC and Entegris (ENTG) and in the case of the term loan and 364-day bridge facilities, finance working capital and general corporate purposes of Entegris (ENTG). Upon consummation of the merger, the Escrow Issuer will merge with and into Entegris, with Entegris continuing as the surviving entity and assuming

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Entegris subsidiary prices $878M debt offering