MKS Instruments (MKSI) said Monday it plans to raise 1 billion euros ($1.18 billion) through the issuance of senior notes due 2034 in a private offering.
Net proceeds from the offering, alongside proceeds from other previously announced financing transactions and existing cash, will be used to prepay about $1.3 billion of, and refinance in full, its $2.2 billion tranche B term loan, as well as to refinance in full its 587 million euro tranche B term loan.
The notes will be unsecured senior obligations of MKS and will be guaranteed on a senior unsecured basis by the company's certain subsidiaries, MKS said.
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